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|
|Implementing Sector|| State/Province
|Program Budget|| $5 million
|Program Administrator||Newfoundland and Labrador Department of Natural Resources|
|Primary Website|| http://www.nr.gov.nl.ca/nr/energy/petroleum/onshore/peep.html
|Last Review|| 2014-09-05
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