NorthAmOil: Newfoundland and Labrador launch 41-block offshore exploration licensing round

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has unveiled a Call for Bids for exploration licences in the offshore Eastern Newfoundland region.

The Call for Bids, designated as No. NL24-CFB01, encompasses a substantial area, comprising 41 parcels totalling a vast expanse of 10,287,196 hectares.

Thirty-two parcels in the region have been previously made available under prior calls or have been returned to Crown reserve after relinquishment. But there are nine parcels that are entirely new.

The deadline for submission of sealed bids for the parcels offered November 6, 2024. The minimum bid required for the parcels on offer is CAD10mn ($7.3mn) in work commitments.