The Government of Nova Scotia is welcoming BP Canada’s new partner to the province’s offshore oil and gas industry.
Woodside Petroleum joins BP and previously announced Hess Corporation on the four Nova Scotia offshore deepwater exploration blocks. Woodside is an Australian-based, publicly traded company with 60 years of experience in the oil and gas industry, including 25 years of LNG export experience.
BP retains operations of the program. BP will have a 40 per cent interest, Hess 40 per cent and Woodside the remaining 20 per cent.
“We’re encouraged by this continued confidence of industry in exploring Nova Scotia’s offshore,” said Energy Minister Andrew Younger. “We are actively pursuing opportunities to better understand our full resource potential, and welcome this investment in the development of our oil and gas resources.”
In 2012, BP was the successful bidder for four parcels covering almost 14,000 square kilometres, about 300 kilometres off the Nova Scotia coast. BP recently completed a 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.