Word: statfjord
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...though, Norway has firmly made up its mind as to what role the government should play. Through Statoil, the state oil company, Norway controls most of its oil industry. It buys up to 75% interests in production ventures; Statoil and Mobil along with other oil companies are partners in Statfjord, Norway's biggest oilfield yet (3 billion bbl. in reserves). Headed by Arve Johnsen, a 41-year-old economist and lawyer, Statoil aims to become a fully integrated company, exploring, drilling, producing and refining oil. It already owns participation rights in 38 exploration areas, or "blocks," off Norway...
...Norwegian government is trying hard to slow exploitation of its riches. Britain and other oil-hungry nations have drilled more than 330 exploratory wells in the North Sea. Norway has driven only 120-even though Statfjord and part of Ekofisk-two of the richest oilfields-lie under Norwegian waters...
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