The Canada-Nova Scotia Offshore Petroleum Board has issued a call for exploration bids on four parcels of the Scotian Slope.
The slope area lies in water that extends 850 kilometres from the United States international border in the southwest, to the Newfoundland provincial border in the northeast.
The board says the four parcels, which have potential for both oil and gas, are found at depths between 100 metres and 4,100 metres.
Parcels one and two are in the western area and extend from the outermost shelf to the lower slope, while parcels three and four border the Newfoundland and Labrador provincial boundary and are adjacent to several active exploration licences managed by the Canada-Newfoundland and Labrador Offshore Petroleum Board.
Board CEO Stuart Pinks says successful bids will be awarded an exploration licence subject to federal and provincial ministerial approval.
The board says the bids must be submitted by Oct. 30.