Government is pleased to welcome Hess Corporation, BP Canada’s new partner in its deepwater project for Nova Scotia’s offshore.

BP Canada remains the operator, with Hess acquiring a 40 per cent interest in the billion-dollar work commitment for four deepwater exploration blocks off Nova Scotia. Hess Corporation is a globally diverse and independent energy company with more than 75 years of experience in the exploration and production of crude oil and natural gas.

“We welcome this continued investment and interest in Nova Scotia’s offshore,” said Energy Minister Andrew Younger. “Nova Scotia remains an energy leader in the responsible development of our offshore resources. Hess brings a global perspective and experience to this venture, and we’re pleased to see a company with such diverse and depth of experience in our market. This clearly demonstrates the continued confidence in the potential of Nova Scotia’s offshore.”

In 2012, BP was the successful bidder for four parcels covering almost 14,000 square kilometres, about 300 kilometres off the Nova Scotia coast. The parcels are southeast of Halifax, in water depths ranging from 100 metres to over 3,000 metres. BP recently completed a 3D Wide Azimuth seismic survey and acquired data in an area covering 7,752 square kilometres.

BP plans to drill its first exploratory well in the second half of 2017.

Source: Release