GULF CANADA POISED FOR SOVIET OIL PROJECT

Gulf Canada Resources Ltd., Calgary, last week confirmed it is in the final stages of registration for a venture that could see outlays of as much as $1 billion for oil development in the Komi region of northern Russia. The project involves Canadian technology and expertise in arctic operations, enhanced oil recovery, and environmental processes. The Soviets have a 50% interest in the joint venture, called KomiArcticOil. British Gas plc, London, agreed in principle to participate with Gulf as

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