DEADLINE APPROACHING FOR HIBERNIA DECISION

Members of the group preparing for development of Hibernia oil field off Newfoundland face a decision by the end of this month on whether to proceed or shelve the project. An indemnity agreement with Ottawa and the Newfoundland governments would give them 75% of what they have spent since last May to a maximum of $185 million (Canadian) if the project is mothballed. The agreement expires at the end of this month. Cost of mothballing the project is estimated at $200-300 million. About $1

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