Statoil in test case for industry as Canada extends seabed territories
* Coastal states using old laws to grab seabed territories
* Areas used to be too remote to develop
* But new oil and gas drilling technology promises revenues
* Percentage of revenues must go to U.N. seabed authority
* Countries hope to pass that payment on to oil firms
* Statoil is test case via exploration in Canada fields
By Alister Doyle
OSLO, Nov 16 (Reuters) - Norway's Statoil risks millions of dollars in extra costs in Canada - a test case that could spell problems for other oil firms too as coastal states extend their seabed territories far into resource-rich ocean depths.
Coastal nations are using U.N laws to extend and define new limits to their seabed territories, pushing beyond a previously established 200-nautical mile (370 kms) zone for drilling and mining as technology opens new frontiers in finding deepwater oil and gas. Continued...