CALGARY (CBC) - Australian mining giant BHP Billiton Petroleum has entered Newfoundland and Labrador's offshore oil industry.

BHP Billiton has teamed up with ConocoPhillips to pay $9 million for exploration licences to look for oil in two ares off the south coast in the Laurentian basin.

Husky Oil and Suncor bid almost $37 million for the right to explore in the Jeanne D'Arc Basin, an area where there are three oil projects currently in operation.

On the west coast of the province, Ptarmigan Energy bid more than $1 million to explore an area between the Bay of Islands and the Port au Port Peninsula.

Each licence is good for nine years.