The Government of Nova Scotia will keep the Georges Bank area in the Atlantic Ocean off limits for oil and gas drilling at least until 2023.
The Canadian province’s government said that the drilling moratorium would be extended till December 31, 2022, with possible further extension in 10-year increments. The existing ban on oil and gas exploration in Georges Bank, will expire on December 31, 2015. The fish-rich area has been locked away for petroleum activities since 1988, when the first moratorium was placed.
“Nova Scotians have been very clear about wanting the moratorium to remain in place,” said Energy Minister Michel Samson. “The Georges Bank fishery supports an important part of our rural and provincial economy, and this legislation will ensure this area remains protected for the long-term sustainability of these important fishing grounds.”
Georges Bank is a large, shallow bank situated on the outer continental shelf of Eastern North America. Canada’s section of the Bank is around 7.000 km2, with the rest falling under the jurisdiction of the United States. The U.S. part of the Bank has also been closed for oil and gas exploration and development, and it will remain so until 2017.
Offshore Energy Today Staff