The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has issued two call for bids for exploration licence in in the Eastern Newfoundland and South Eastern Newfoundland Regions (eastern coast of the country), consisting of 47 parcels and 12 m hectares. Bids are open until 1 November 2023. The C-NLOPB Board has approved the release of these calls for bids, and the federal and Newfoundland and Labrador governments have also approved it. These procedures will also be necessary when exploration licences are granted to winning bidders in early 2024.
Canada's oil production (crude, NGL, and non-conventional oil) increased by 67% between 2010 and 2021 and has more than doubled since 2000. Its gas production rose by 22% between 2010 and 2021. Canada is the fourth largest crude oil and NGL producer in the world (after the United States, Russia, and Saudi Arabia) (2021) and the fifth larger gas producer (after the United States, Russia, Iran and China).
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