The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has issued a Call for Bids in the Labrador South Region under its Scheduled Land Tenure Regime.
Call for Bids NL16-CFB03 (Labrador South Region) covers 10 parcels over a total 2.2 million hectares.
C-NLOPB says the sole criterion for selecting a winning bid will be the total amount of money the bidder commits to spend on exploration of the parcel during Period I (the first period of a nine-year license). The minimum bid for the parcel offered is $10 million in work commitments.
Anyone wanting to apply has until either 8 November 2017 or a minimum 120 days after the completion of an update to the Labrador Shelf Offshore Area Strategic Environmental Assessment (SEA), whichever is later, to submit sealed bids for the parcels offered in Call for Bids NL16-CFB03.
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