Statoil in test case as Canada extends seabed
Canada extends underwater borders using UN laws to capture resource-rich seabeds
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Oslo
NORWAY'S Statoil risks millions of dollars in extra costs in Canada - a test case that could spell problems for other oil firms too as coastal states extend their seabed territories far into resource-rich ocean depths.
Coastal nations are using UN laws to extend and define new limits to their seabed territories, pushing beyond a previously established 370-kilometre zone for drilling and mining as technology opens new frontiers in finding deepwater oil and gas.
