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Conoco Phillips reports major oil discovery in Norway

US oil giant Conoco Phillips has just made a large oil discovery in the North Sea. This is the company's fourth Norwegian oil find in 16 months.

Photo: Lm Otero/AP/Ritzau Scanpix

In a 2,179-meter well in the Norwegian Sea, Conoco Phillips has found itself something of an early holiday present.

According to preliminary estimates, the well contains between 75 and 200 million barrels of oil.

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