Call for Bids in the Jeanne d’Arc region consists of three parcels and a total of 784,330 acres. No offshore petroleum related activity will be allowed before demonstrating that it meets all legislative and regulatory requirements. Risks should also be reduced to low levels.
Call for bids will close on November 8, 2017 and the sole criterion for the selection of the winner will be the total amount of money committed to spend on exploration of the parcel during licensee's first nine-years period. A Work Expenditure Bid of at least $10 million CAD (7 million euros) for each of the parcels in this Call for Bids is required.
The parcels are included in the 2014 Eastern Newfoundland Strategic Environmental Assessment (SEA) which examines the environmental effects associated with a plan, program or policy proposal and allows for the incorporation of environmental considerations at the earliest stages of program planning.
The region comprised on the Call for Bids, Eastern Newfoundland area, is considered a mature area of Jeanne d’Arc region, based on the level of oil and gas exploration and development activities.
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