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Canada's East Coast: Statoil paves way for Flemish Pass development

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Report summary

Statoil and its partner Husky Energy have laid the foundations for a new offshore development hub with an announcement that their Bay du Nord discovery in Newfoundland's Flemish Pass holds 300 to 600 million barrels of recoverable oil. This, combined with the partners' mid-2013 Harpoon and 2009 Mizzen North discoveries, has established the area's potential.

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