Norway Studying BP Gulf Oil Disaster, Offers Deepwater Blocks

Norway offered 12 deepwater blocks for offshore oil and gas drilling to stem a drop in production, even as BP Plc seeks to halt the worst oil spill in U.S. history at a similar depth in the Gulf of Mexico.

Norway, the world’s sixth-biggest oil exporter, today announced 12 new areas for drilling at a depth of more than 1,500 meters (4,900 feet), the same as BP’s leaking well at about 5,000 feet, as part of the nation’s 21st licensing round.

To read the rest of the article, click here.

Source: BusinessWeek