Oil exploitationThe first oil field was drilled in the North Sea in 1969. Since then, an extensive oil industry has developed, particularly in the central and northern part of the North Sea. Most of it is in British and Norwegian hands. In 2002, the North Sea bottom produced a total of 360 million cubic meters of oil. The offshore industry estimated the remaining supply of oil in early 2003 at 2700 million cubic meters. |
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