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Chief executive and chairman Harry Bradbury said directional drilling under the seabed was extremely expensive and time consuming.

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"This builds on a body of research done already, most notably in the US, were certain groups have been able to make use of fibre lasers," said Dr Bradbury.

He admitted the technology sounded like something from a science fiction novel, but added: "Not so long ago if you said you would have a metal rig in the middle of the North Sea that was drilling down deep into the seabed they would think you were talking about a Jules Verne book."

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