Mr. Hal Stanley, Chairman of the Canada-Newfoundland Offshore Petroleum Board, announced today the Board has adopted a new policy position extending the confidentiality period for non-exclusive geological and geophysical work (mainly seismic surveys) in the Newfoundland offshore area from 5 years to 10 years.
This doubling of the confidentiality period, extends the time period during which independent seismic operators have the exclusive right to sell the results of their work, thereby allowing them a longer period to earn a return on their investment. This policy change will increase the attractiveness of the Newfoundland and Labrador Offshore Area for independent seismic operators.
Mr. Stanley noted this policy change brings the confidentiality period for such information in line with the policy followed by the Canada-Nova Scotia Offshore Petroleum Board. The confidentiality period allowed by the National Energy Board in similar circumstances is 15 years. The Province of Newfoundland and Labrador also provides for a 15-year confidentiality period for onshore non-exclusive seismic information.
For more information contact:
Dr. Neil DeSilva
Chief Geoscientist
Canada-Newfoundland Offshore Petroleum Board
5th Floor, TD Place
140 Water Street
St. John’s, Newfoundland
A1C 6H6
Telephone: (709) 778-1421
Date | Update |
---|---|
1999, Nov 19 | 1999 Maps / Cartes |
1999, Nov 19 | 1999 LAND SALE RESULTS |
1999, Apr 1 | HIBERNIA AUTHORIZED TO RESUME OIL PRODUCTION |
1999, Mar 29 | 1999 CALL FOR BIDS |
1999, Mar 17 | HIBERNIA AUTHORIZED TO RESUME OIL PRODUCTION |
1999, Feb 24 | New Policy |