A joint federal-provincial regulator says a U.K. company has won the rights to explore for oil and gas in the water off Nova Scotia.
The Canada-Nova Scotia Offshore Energy Regulator says Inceptio Oil and Gas Ltd. has committed $210 million for exploration activities such as seismic testing and drilling.
However, the company will only get an exploration licence after approval from the federal and provincial governments.
And further authorizations will still be required before Inceptio Oil and Gas can actually start seismic testing.
Premier Tim Houston says the successful bid means Nova Scotia is back in the offshore oil and gas business….