Arctic Offshore Oil & Gas
The area north of the Arctic Circle may hold a significant amount of undiscovered oil and gas, up to 13% and 30%, respectively, according to the USGS (Gautier et al. 2009). According to that source, this resource probably lies in continental shelves at water depths below 500 metres (1,600 ft), which makes up about one third of that area. Also, more than 400 oil and gas fields had been identified up to 2007, most of them in Northern Russia and on the North Slope of Alaska.
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Famous quotes containing the words arctic, oil and/or gas:
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—Thomas Carlyle (1795–1881)