From the Field
BHP, Equinor awarded Canada licences
OTTAWA, November 8, 2018 – BHP has won 100% stakes in blocks 8 and 12 in the Orphan Basin offshore Canada, the company announced on Thursday.
The news came a day after Equinor announced successful bids for three licences offshore Newfoundland, two of which it will operate.
Following Canada’s recent bid round, which ended on Wednesday, the Norwegian NOC will receive a 70% interest in licence NL18-CFB01-14, where its partner would be Husky Energy (30%), and a 60% stake in NL18-CFB01-15, with partner Suncor Energy (40%). It will also receive a 30% stake in NL18-CFB02-01, operated by Suncor (40%) alongside partner Husky (30%).
The winning bids, placed on five out of 16 areas on offer, totalled CAD 1.4 billion (USD 1.07 billion).