Energy Minister Andrew Parsons can’t say for certain whether any particular companies have expressed an interest in exploration in the NL offshore in the near future, but things are looking positive.

The province recently allocated $90 million over the next three years to encourage more exploration in the NL offshore, and hopefully revitalize the industry.

Parsons says he can’t speak to specifics but he’s hopeful the funding will cause some companies to consider the NL offshore for exploratory drilling.

“There’s a lot of positive conversations about drilling next year and beyond, but when you’re looking at the active costs of exploration now for one well, it’s anywhere from $120-$150 million, I think any kind of incentivisation will help….I think there’s absolutely interest” says Parsons.