Nova Scotia offshore oil and gas exploration parcels up for bids

Will the third time be the charm for Nova Scotia's offshore?

That's the question on the minds of those eager to see more offshore oil and gas exploration, in light of Tuesday's call for bids by the Canada-Nova Scotia Offshore Petroleum Board.

The board has asked for bids on nine parcels of ocean. Two are on the Scotian Shelf near Sable Island, which has proven oil and gas reserves.

The other seven parcels are in two blocks. One three-parcel block is located roughly east of Halifax. The other four are off the southern end of the province.

In 2014 and 2013, the Canada-Nova Scotia Offshore Petroleum Board put a total of 11 parcels up for bids, but not a single oil or gas company was interested in exploring any of them.

• Find a map of the bid areas here

Michel Samson, Nova Scotia's Energy Minister, isn't deterred by the previous lack of interest.

"I think there's a sense of excitement about Nova Scotia's offshore in the fact that, with the challenges of the price of oil both Shell and BP, who have cancelled exploration projects in different parts of the world, have maintained their commitment to Nova Scotia which is a sign of confidence," said Samson.

"We're hoping that that confidence is going to reverberate with other players in the industry."

In 2011, Shell Canada bid $970 million for four licences. The following year, they were awarded licences to another four parcels with an additional $318-million bid.

BP — formerly known as British Petroleum — was also awarded licences to four parcels for $1 billion in its search for oil and gas.

Those two years marked the biggest bids ever received in Canada's offshore, according to the Canada-Nova Scotia Offshore Petroleum Board.

Last year, both companies conducted extensive 3D seismic surveying.

Shell is hoping to start exploratory drilling in the coming months, while BP plans to start drilling in 2017.