The Undiscovered Resourcethe Area Above The Polar Circle Is Held By The Sedimentary Basins And Continental Shelves That Hold Enormous Oil And Natural Gas Resources. Most Of This Location Is Inadequately Checked Out For Oil And Gas; Nevertheless, The United States Geological Study Approximates That The Arctic Includes Approximately 13 Percent Of The World’s Undiscovered Traditional Oil Resources. It Is About 30 Percent Of Its Undiscovered Standard Gas Resources.
This makes the Arctic an exceptionally rich area. It is about the very same geographic size as the African continent – about 6% of Earth’s area – yet it holds an estimated 22 percent of Earth’s oil and gas resource. Most of the research exploration in the Arctic to-date has taken place on land. This work has led to the Prudhoe Bay Oil Field in Alaska, the Tazovskoye Field in Russia and hundreds of smaller sized fields, some which areRead more