A new wave of Atlantic basin offshore oil discoveries is spurring optimism over the potential for significant finds in new and mature provinces. The success stems from a combination of upstream inde- pendents’ risky bets on unproven geological theories — such as US independent Cobalt International’s sub-salt dis- covery off the coast of Angola — and the application of fresh ideas in long-established areas, such as with Norwegian state-controlled Statoil’s Aldous and Avaldsnes finds last year in the Norwegian North Sea.
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