Norway Encourages Hunt For Oil, Natural Gas
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Norway’s Ministry of Petroleum and Energy announced Sunday it would offer 79 blocks for natural gas and oil drilling to help speed up the hunt for new deposits in the midst of declining production from its North Sea fields. Currently, the country serves as the globe’s fifth-largest oil exporter. Applicants who want to secure one of the blocks have until Nov. 7 to put it their bid. Production licenses will be awarded in the spring.
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