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February 13, 2013

Norwegian firm to build Arctic oil terminal

OSLO, Norway (AP) — Norwegian energy company Statoil ASA says it plans to build a new oil terminal on the country's Arctic coast to process oil from a recent discovery in the Barents Sea.

Statoil chose a development concept Tuesday that envisions transporting oil from the Skrugard field, which is expected to come on stream in 2018, through a 174-mile pipeline to the new terminal outside Honningsvaag, on Norway's northern tip.


 
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