NORSKE SHELL TO TRIM HOLDINGS OFF NORWAY

Norske Shell plans to reduce its acreage off Norway. The company will offer interests in 11 licenses in the North Sea, off mid-Norway, and in the Barents Sea. The main objective is an exchange of acreage with other Norwegian operators, although cash bids from other companies seeking a foothold in Norwegian waters is not ruled out. The offer drew immediate interest from a number of Norwegian operators, but Shell said it must obtain permission of its partners in the licenses on offer before

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