Play Fairway Analysis
Oil and Gas
Fossil fuels, including natural gas—a cleaner-burning fossil fuel— have a role to play in our energy future.
They have to. Other forms of renewable energy, such as wind and tidal, are intermittent. We need a mix of energy sources so we’ll have a steady, sustainable supply.
Our province has petroleum reserves both onshore and offshore. Tapping into them brings opportunities and challenges. Read on to learn more about our plan to develop them in a way that serves Nova Scotian’s needs, benefits our economy, and protects our environment.
Our offshore is rich with potential. Several world leaders in oil and gas are investing in Nova Scotia's offshore, which will create more good jobs and generate hundreds of millions of dollars for Nova Scotians.
In 2011, shell Canada was awarded four deep water parcels in southwest Nova Scotia for a combined work expenditure bid of $970 million. Subsequently, Shell Canada was awarded an additional two deep water and two shelf parcels for $32 million, resulting in a combined work commitment of more than $1 billion.
In 2012, BP was also awarded four deep water parcels in the region south west of Sable Island for a total work commitment of $1.05 billion. In total, BP and Shell Canada have committed a total of $2.05 billion in work commitments, the highest bids received in Atlantic Canada.
These developments have captured the attention of other global oil and gas super majors who now recognize Nova Scotia's oil and gas potential. Shell recently announced partnerships with ConocoPhillips Canada and Suncor Energy to further its exploration program in Nova Scotia's offshore and Woodside Petroleum and Hess Corporation have joined BP in their NS exploration work.