Canada | CNLOPB Regulations Reimburse Seismic Costs for License Winners

Regulators in Newfoundland and Labrador recently announced to bidders on eastern Canada licensing opportunities that winners of offshore licenses can now apply to have 75% of pre-bid "allowable expenditures" reimbursed.

The reimbursable cost of seismic data used to prepare the successful bid has increased three-fold with this change. The winning bidders will now be able to recover most of the cost of licensing MultiClient seismic data used to prepare bids.

Further details of the terms and information about other expenses covered by the notice can be found on the CNLOPB website 

All other terms and conditions of the Call for Bids NL20-CFB01 remain unchanged.