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UK North Sea Outshines Norway for Investment in Drilling

Changes to the tax system make Britain a more attractive drilling location for oil- and gas companies than rival Norway, writes Rigzone from a report by Deloitte.

Photo: Harald Pettersen/Statoil

Drilling activity in British waters leapt by 64 percent year-on-year in the three months to June 30, compared with a 33 percent fall in Norway, says Deloitte's quarterly report according to Rigzone.

Existing tax breaks - for heavy oil, high-temperature, high-pressure and small fields - tip the balance in favor of investment in British waters, reported the accountancy firm, with measures outlined in the Budget expected to give a further boost to drilling.

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