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Statoil pledges C$82M for exploration offshore Nova Scotia

Nov. 12, 2015 6:34 PM ETEquinor ASA (EQNR) StockEQNRBy: Carl Surran, SA News Editor1 Comment
  • Statoil (STO) is awarded two deepwater exploration licenses offshore Nova Scotia totaling C$82M by the Canada-Nova Scotia Offshore Petroleum Board.
  • STO becomes the third company interested in hunting for oil offshore Nova Scotia after Royal Dutch Shell began exploratory drilling this month and with BP planning to follow suit in 2017; the Shell and BP planned programs are much larger, with a price tag of ~$1B each.
  • The federal natural resources minister and province energy minister must still sign off on the newest licenses.

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