To increase drilling and knock down barriers to exploration and production, Nova Scotia Minister of Energy Cecil P. Clarke said Tuesday that the province has improved its regulatory processes to collect more royalties and impose fewer penalties.
Articles from Scotia
Calgary-based Canadian Superior Energy Inc. acquired El Paso Corp.’s offshore Nova Scotia exploration and production (E&P) assets last week for an undisclosed amount. The two companies teamed up in 2002 and again in 2003 to work in the Scotian offshore, but the projects have never matched El Paso’s expectations.
Calgary-based Canadian Superior Energy Inc. has acquired El Paso Corp.’s offshore Nova Scotia exploration and production (E&P) assets for an undisclosed amount. The two companies teamed up in 2002 and again in 2003 to work in the Scotian offshore, but the projects have never matched El Paso’s expectations.
The Nova Scotia Department of Environment and Labour has concluded that a liquefied natural gas (LNG) terminal, proposed for construction at the Point Tupper/Bear Head Industrial Park on the Strait of Canso, is not likely to cause significant adverse effects on the environment. The approval was a key step forward for Access Northeast Energy Inc., which wants commercial operations to begin by November 2007 (see Daily GPI, March 12).
The owners of the Sable Offshore Energy Project (SOEP), off Nova Scotia, announced Monday the awarding of contracts for Tier 2, or second phase, of the project that is expected to produce a total in excess of 600 MMcf/d and 24 thousand bbl/d of liquids by 2003 when both tiers are up and running, according to estimates by part-owner ExxonMobil. Current production averages 550 MMcf/d of sales gas and 20,000 bbl of natural gas liquids.
As oil and gas exploration continues in high gear mode to erase the supply/demand imbalance, Kerr-McGee Corp. reported that it has increased its international position in high potential trends by nearly 10% so far in 2001. The Oklahoma City-based company said it has acquired interests in more than 3 million additional deepwater acres around the globe..
Canadian Superior Energy Inc. plans a major East Coast drillinginitiative offshore Nova Scotia on the company’s Marquis Prospectby September. The prospect is located about 12.5 miles northwest ofSable Island, and is analogous to PanCanadian Petroleum Ltd.’srecent 2 Tcf Abenaki Reef discovery there.
Markets in Atlantic Canada and New England won’t be getting anextra gas supply source as soon as previously expected. Maritimes& Northeast Pipeline LLC informed FERC this week that both530/360 MMcf/d Canadian/US pipeline project (Phase II) and theSable Offshore Energy Project (SOEP), which will be the source ofsupply for the pipeline, will not be in service on schedule.