Quebec plans to partner with private sector interests in an oil exploration program on Anticosti Island in the Canadian province. “These agreements with private sector partners will create sustainable wealth and quality jobs if the presence of oil is confirmed,” Premier Pauline Marois stated in a news release Thursday announcing two agreements. The first is a $100 million drilling program with Petrolia Inc., based in Quebec, and Nova Scotia ‘s Corridor Resources, as well as France’s Maurel & Prom, in which the province, through its government agency Resources Quebec, would invest $70 million in return for a 35 percent stake. Under the second preliminary agreement, with Junex, based in Quebec, the province “and an operator yet to be determined” would fund an exploration program of $90 million, with the province getting at least 40 percent of the joint venture. Each of the two […]