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</a> Duly awarded drilling rights, Shell began drilling in June 1971; the 2.7 billion barrels of oil it discovered there became known as the Brent oilfield; and the Brent province, as the nearby area was to be called, would become one of Britain’s most important energy assets. At the time, however, Shell managed to keep the vast find a secret, and so, at the fourth round of North Sea licensing, which involved cash bids for prospecting blocks, the company managed to avoid a bidding war.
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