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May 08, 2008

Opab, a Swedish firm, applied for a permit to explore for oil in the Baltic Sea, the Finnish daily Helsingin Sanomat reported. The company hopes to find 300 – 350 million barrels of oil, or enough to cover 20 percent of Sweden’s oil consumption for a 20-year-period. According to Erik Palmlov, chief geologist with Opab’s mother company Svenska Petroleum Exploration, the oil field straddles the boundary of five countries’ exclusive economic zones but extends 110 kilometers into Sweden’s zone south ...


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