UK Government Backs Shell-Exxon Venture In North Sea

Law360, New York (October 22, 2012, 6:21 PM EDT) -- Making good on promises to boost North Sea energy exploration, the British government Monday gave its blessing to a sizable oil and gas development pursued by units of Royal Dutch Shell PLC and Exxon Mobil Corp.

The so-called Fram Field project off the eastern coast of Scotland is expected to produce 35,000 barrels per day of oil equivalent, boosting the U.K.'s daily oil and gas output by 2 percent when it comes online by 2015 and marking one of the largest such projects greenlighted in the...
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