Statoil teams up with rivals to coordinate Arctic exploration

April 21, 2015 10:12 AM

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OSLO, April 21 (Reuters) - Norway's Statoil has teamed up with Eni, Lundin Petroleum, OMV and GDF Suez to coordinate exploration activities in the Norwegian Arctic to reduce costs, it said on Tuesday.

The three-year deal, to be led by Statoil, will focus on the Barents Sea, particularly areas to be awarded next year in Norway's 23rd licencing round.

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