Petroleum Resource

“Petroleum Resource” means oil and gas. For further certainty, “oil” means:

(i) crude oil, regardless of gravity, produced at a wellhead in liquid form, and

(ii) any other hydrocarbons, except coal and gas, and, without limiting the generality of the foregoing, hydrocarbons that nay be extracted or recovered from deposits of oil sand; bitumen, bituminous sand, oil shale or from any other types of deposits on the surface or subsurface or the seabed or its subsoil, and “gas” means natural gas and includes all substances, other than oil, that are produced in association with natural gas.

Source: Canada – Nova Scotia Offshore Petroleum Resources Accord, Canada, August 26, 1986. Legislation

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