NOTE: The following is a statement from Premier Tim Houston in response to the Canada-Nova Scotia Offshore Energy Regulator announcing today, April 30, the successful bid for rights to explore oil and gas offshore Nova Scotia. The news release about the announcement is at: https://cnsoer.ca/news-resources/news-announcements

Nova Scotia is back in the offshore oil and gas business. And this is not just talk. It is real investment in Nova Scotia’s offshore.

Inceptio Oil and Gas, led by Nova Scotian James Edens, has stepped forward with bids on two parcels in the latest call for bids. They believe in Nova Scotia. And they’re willing to invest more than $210 million.

Mr. Edens is a proven executive in the global oil and gas industry. When someone with that level of experience and access to capital chooses Nova Scotia, the world notices.

A bid is not just a number. It is a commitment to spend that amount of money exploring those parcels. It will be invested in seismic work and offshore exploration activity. It means more Nova Scotians working in oil and gas and fewer of them doing it while raising their families two weeks on, two weeks off.

All of this means hope for families. It can also lead to revenue for the government, which means more to invest in doctors and healthcare, teachers and schools, roads, rinks and communities.

Just as important, these bids were independently reviewed and vetted by the Canada-Nova Scotia Offshore Energy Regulator. That means they have gone through a credible, arm’s-length regulatory process and met the standard required to move forward.

We have worked hard to restore confidence in our offshore. We have pushed to put Nova Scotia back into the global energy conversation, and with today’s news, we see that we are doing just that. Companies are noticing.

These are real results. And momentum is building.

Nova Scotia is on the path to becoming more self-sufficient, relying less on the United States for energy and on transfer payments into our province.

Here is the truth: Before the world believes in Nova Scotia, Nova Scotians themselves have to believe in Nova Scotia. Mr. Edens has proven that he does.

We have been here before. The Sable Offshore Energy Project and Deep Panuke Offshore Gas Project helped generate billions in economic activity, billions in revenue to the Province, and thousands of jobs for Nova Scotians. This money paid for hospitals, roads, rural internet and the social services we depend on. We proved we can build, operate and responsibly manage offshore energy at scale.

That was not the peak. It was a preview.

Across our entire offshore margin, we believe there is the potential for 148 trillion cubic feet of natural gas and 49 billion barrels of oil. That is the scale of the opportunity in front of us, across a number of other parcels that are still or yet to come out for bid on the energy market. All of it is potentially good news for you, your family and your community.

We’ll continue working with industry to secure future bids. We’ll continue to promote our offshore wind and onshore natural gas resources. And we’ll continue to work hard to find new opportunities that strengthen our energy security, reliability and economic benefits to Nova Scotians.