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Oil Reserves in Norway
- By Oil and Gas Author
- Published 08/26/2006
- Crude Oil Petroleum , Natural Gas Petroleum , Exploration and Discoveries , Liquefied Natural Gas LNG , Oil Field Development , Norway , Oil and Natural Gas Prices , Offshore Drilling , Petroleum Pipeline
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Oil and Gas Author
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View all articles by Oil and Gas AuthorAccording to Statistics Norway, the country exported 2.2 million bbl/d of crude Oil and Petroleum products in 2005. The largest single recipient of Norways exports in 2005 was the United Kingdom, which imported 808,000 bbl/d from Norway, or 36 percent of Norways total exports. Other significant destinations included the Netherlands, France, and the United States. Because Norway shares the North Sea region with the United Kingdom, the two must coordinate efforts when dealing with reserves that straddle the division of each countries respective zone. In April 2005, the two countries signed a bilateral treaty detailing the handling of such resources. The treaty was the first step toward a general framework for inter-boundary oil projects, as previous projects have been governed by separate treaties and negotiations. Talisman Energy planned to bring the Enoch and Blane fields on stream in late 2006, which straddle the border between the UK and Norway. Norway is the second-largest supplier of Natural Gas to continental Europe.
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Oil Reserves in Norway
