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OIL CONSORTIUM HALTS EXPLORATION.

A consortium of foreign oil companies has halted exploration activities in waters off Suriname after obtaining mixed results and deciding it was risky and expensive to continue, reports Reuters (April 19, 2001). Eddie Jharap, general manager of the Suriname State Oil Co., said that the Suriname

Deep Water Consortium had carried out more than 6,000 km of seismic exploration, concentrating on three main target areas. SDWC, which includes Burlington Resources Inc., Shell Exploration and Production, TotalFinaElf and Korea National Oil Corp., had signed an exploration and production-sharing agreement with Suriname for a huge swathe of offshore acreage in August 1999.

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