C-NLOPB Releases Results for 2016 Calls for Bids
Thursday 10 November 2016
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) is announcing the results of Call for Bids NL16-CFB01 in the Eastern Newfoundland Region and Call for Bids NL16-CFB02 in the Jeanne d’Arc Region, both located in the Canada-Newfoundland and Labrador Offshore Area. The sole criterion for selecting a winning bid is 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 licence). The minimum bid for each parcel offered is $10,000,000 in work commitments.
The total value of both Calls for Bids is $757,989,794 in work commitments.