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Exploration and Production
Three decades of seismic testing has surveyed much of the seabed and deep geological formations of Nova Scotia’s offshore. The results of that research led to the:
Two world leaders in oil and gas are investing in Nova Scotia's offshore:
- Shell Canada committed to spend $970 million exploring four deep water parcels over six years, as well as $32 million for two deep water and two Sable Island area parcels. Total work commitments for Shell is $1.02 billion.
- BP Exploration Ltd has been awarded four deep-water parcels for a total exploration spending commitment of nearly $1.1 billion over six years.
- StatOil Canada Ltd has been awarded two deep-water parcels for a total exploration spending commitment of $82 million over six years.