Nova Scotia's Georges Bank Offshore Oil Deposits
Georges Bank is a large, shallow, biologically diverse and productive bank on the outer shelf of eastern North America.
Canada and the United States share jurisdiction over Georges Bank; the Canadian side of the boundary includes the northeast portion known as the Northeast Peak.
Georges Bank is a relatively flat-topped bedrock feature exploited for a number of commercial species of fish.
It also contains the potential for large hydrocarbon reserves.
However, there is currently a moratorium in place on oil & gas exploration on Georges Bank. The federal and provincial governments have a joint agreement to extend the moratorium until 2015.