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Norway eyes giant oil discovery in the Barents Sea

Oil and gas resources worth upwards of NOK 900 billion (USD 105 billion) could be hiding in the eastern part of the northern Barents Sea, estimates the Norwegian Petroleum Directorate after mapping the area.

Photo: Ole Jørgen Bratland - Statoil

After a new mapping of the eastern part of the northern Barents Sea, the Norwegian Petroleum Directorate now estimates that the area stores a surprisingly overwhelming amount of oil and gas resources, according to a recent statement.

The Norwegian directorate writes that the undiscovered resources in the Barents Sea are twice as large as previously assumed.

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