Petroleum Exploration Enhancement Program (Newfoundland and Labrador, Canada)
Last modified on February 12, 2015.
|Place||Newfoundland and Labrador|
|Applies to States or Provinces||Newfoundland and Labrador|
|Name||Petroleum Exploration Enhancement Program (Newfoundland and Labrador, Canada)|
|Policy Category||Financial Incentive|
|Policy Type||Grant Program|
|Affected Technologies||Natural Gas|
|Program Budget||$5 million|
|Program Administrator||Newfoundland and Labrador Department of Natural Resources|
The Provincial Energy Plan, released in September 2007, introduced a policy action to encourage and promote exploration activity in Western Newfoundland known as the Petroleum Exploration Enhancement Program (PEEP).
The Department of Natural Resources announced a $5 million, two-year program to encourage onshore exploration through the application and acquisition of petroleum geoscience data. Funding extended to 2011-2012.
The program is administered jointly by the Department of Natural Resources (DNR) and the Provincial energy corporation, Nalcor Energy.
|Contact Name||Newfoundland and Labrador Department of Natural Resources|