HomeMagazine2016March 2016, Vol. 243, No. 3The U.K. Is About To Boost Oil Exploration With An Old Trick

March 2016, Vol. 243, No. 3

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The U.K. Is About To Boost Oil Exploration With An Old Trick

In 2000, Canadian miner Goldcorp changed its fortunes through a unique strategy: giving away its proprietary technical data. Dubbed the “Goldcorp Challenge”, the firm made all of its geological information available to the public. And offered $575,000 in prize money to geologists who could use the data to tell the company where to find the next big discovery on the company’s gold property in Ontario — a move that ultimately led to $6 billion in new gold resources being discovered. And this week, one of the world’s go-to oil and gas nations said it is trying something similar to reboot exploration. That’s the U.K. Where the country’s Oil and Gas Authority said yesterday it will make all da

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