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North Sea Gas and Oil Exploration |
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Thursday, 22 July 2010 06:51 |
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The North Sea is set to see new exploration over the coming years. The Government has recently reported an increase in license applications to record levels. Bids have recently been received for 356 areas for developing North Sea gas and oil. This news is a boost for North Sea gas and oil following a fall in investment due in part to the financial crisis.
It is estimated that there are about 18 million barrels of oil in the Bacchus oil field alone in the central North Sea area.
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