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Detailed analysis of 8 exploration wells in the Arctic, no significant discoveries made, excess exploration costs, potential reserves of 5.3 bbo, challenges with glacial icebergs. Learn more about the Arctic exploration findings.
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Total of 8 wells in 2010-11 • No commercially viable discovery • Expenses already exceeded exploratory budget for 2010-2014
NERI: ” Icebergs from the two major glacial outlets in this particular area, 79-Fjorden Glacier and Zacharie Glacier, are more like Arctic Ocean ice islands”