Call for Bids Released for Newfoundland and Labrador’s Offshore

Bids for exploration licenses offshore have been received as a result of the most recent calls for bids both locations in the Canada-Newfoundland and Labrador Offshore Area.

There was a cumulative total of $38.6 million in bids.

In less than nine per cent of the province’s offshore, there is a combined resource potential of 52.2 billion barrels of oil and 199.6 trillion cubic feet of gas.