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20 years of offshore exploration yields plethora of valuable discoveries with abundant remaining potential, Norwegian Offshore Directorate reports

A Norwegian Offshore Directorate analysis of exploration activity from 2004-2023 shows that the discoveries are valued at three times the costs expended. 50 of 190 offshore discoveries have been developed and are producing, leaving three-quarters still to be developed. These investments will remain profitable as more fields come on stream.

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