Fossil Energy – Licensing Round
Canada and Nova Scotia are advancing a coordinated push to expand offshore oil and gas development, launching a new licensing round and signaling a sustained reopening of the province’s offshore basin to exploration investment.
The Canada–Nova Scotia Offshore Energy Regulator (CNSOER) has issued a call for bids covering 13 parcels in the Sable Island area and adjacent slope, with submissions due April 28, 2026. Officials said the round marks the first in a planned series of offerings designed to establish a predictable, long-term exploration framework.
Premier Tim Houston emphasized the province’s readiness to attract investment, stating that Nova Scotia is open for business, with both levels of government aligned to provide the policy certainty and regulatory clarity needed for large-scale offshore projects.
Nova Scotia’s offshore is estimated to contain between 47 Tcf and 148 Tcf of natural gas and 19 Bbbl to 49 Bbbl of oil in place, positioning the basin as one of the most significant undeveloped opportunities in the North Atlantic.
