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BP plans to surrender part of offshore Nova Scotia license

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BP Canada has scaled back its plans to explore for oil and gas offshore Nova Scotia. The supermajor has agreed to surrender half of the area of its offshore license, which covers four offshore parcels southeast of Halifax, the Canadian Press reported, citing a statement from the Canada-Nova Scotia Offshore Petroleum Board. Under terms of the license, BP was required to drill four wells within the first phase of the exploration license if it wanted approval to proceed to a second......
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