BP spends big off Nova Scotia

Big round: bids make up largest round in province's offshore history

CNSOPB

Eoin O'Cinneide

 16 November 2012 16:27 GMT

BP has committed a whopping $1.05 billion of work expenditure after netting four offshore blocks in Nova Scotia's latest bid round.

The monster spend comes the day after the UK supermajor reached settlements with both the US Department of Justice and the Securities & Exchange Commission which totalled over $4.5 billion.

Shell has also landed a quartet of blocks in the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) bidding round for exploration licences.

The two oil giants were the only companies to be awarded blocks in the round which also saw no bids received for three of 11 blocks offered.

BP has landed Blocks 5, 6, 7 and 8 off Nova Scotia, all of which are…

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