Nova Scotia to spend $12M over four years on offshore oil and gas data
Research will try to convince energy companies there are undiscovered pockets of hydrocarbons off the province's shores.
HALIFAX — A source says the Nova Scotia government will announce it will spend $12 million over four years to fund scientific data on potential oil and natural gas opportunities in its offshore.
The source says Premier Stephen McNeil will details on May 13 of the funding for geological research that is aimed at helping convince energy companies there are undiscovered pockets of hydrocarbons off Nova Scotia’s shores.
The source spoke on condition of anonymity.
The province’s Energy Department has a research program called the Play Fairway Analysis that provides seismic data and other geological information to industry players looking for offshore oil and gas.
The announcement will come days after the Canada-Nova Scotia Offshore Petroleum Board announced it is seeking new bids to explore parcels of its offshore territory.
The board says the deadline for those bids closes on Oct. 30.
© 2014 The Canadian Press