North Sea fields top world list for new exploration

From: The Scotsman | Date: May 14, 2003| Author: | Copyright information

SCOTLAND'S North Sea oil fields are the world's hottest spot for new exploration in 2003, according to an industry report.

Boosted by a raft of government initiatives aimed at bringing life back to ageing North Sea assets, data from research firm Robertson reveals that the UK is the country most likely to see oil investments this year - pushing Australia and Libya into second and third places respectively.

The report came as the Department of Trade and Industry revealed that the latest round of applications for North Sea exploration licences had seen a surge in demand. However, economists ...

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