Norway to join China's Cnooc in Iceland oil exploration

|By:, SA News Editor

Norway said it will team up with China's Cnooc (CEO) to explore for oil offshore Iceland, in a rare cooperation for the two countries since a diplomatic row over the award of the 2010 Nobel Peace Prize to a Chinese dissident.

Iceland awarded its first two licenses in January, in which Norway decided to participate, and in June it gave another license to Cnooc and Icelandic firm Eykon Energy, the first for a Chinese firm to look for oil in the Arctic.

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