Nova Scotia Funds Research and Development to Attract Offshore Exploration

The government of Nova Scotia is putting new money into research and development to encourage drilling in offshore Nova Scotia.

The province announced a $100,000 grant to a research association to explore the use of electromagnetic imaging technology to help find oil and gas deposits in offshore Nova Scotia.

"Nova Scotia has proven oil and gas reserves. I want more exploration and that is why government is helping to make it happen," said Energy Minister Bill Dooks.

The grant was awarded to Petroleum Research Atlantic Canada.

"Electromagnetic imaging technology has the potential to accelerate the identification of drilling prospects and reduce exploration risk," said Dave Finn, president of Petroleum Research Atlantic Canada. "This is a nicely focused strategic investment by the province. We're delighted to facilitate projects like this for our members."

The government said an announcement of nearly $1 million worth of geoscience research work will be made in the coming weeks, part of the province's $6 million investment in research and development and other data initiatives in the past 14 months.


Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours