In Development

Northern European Arctic


Northern European Arctic

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Cost: $100k (USD). 
Duration: 18 months

Principal Investigator(s)
Alastair Fraser

44 207-594-6530
afraser@egi.utah.edu

Dr. Raymond Levey
801-585-3826 
rlevey@egi.utah.edu

Arctic represents the last frontier for conventional Oil & Gas exploration and may contain up to 1/5th of the worlds yet-to-find resources

In excess of 200 billion barrels (OE) already discovered:

  • Majority of this in West Siberia & Alaska
  • New access opportunities in West & East Greenland, Norwegian & Russian Barents
  • Independent view of resource potential and oil/gas distribution proposed

Some key recent activity in the region:

  • Cairn reported oil discovery off Disko Island (Sept 2010), West Greenland likely to increase interest
  • Norway-Russia agreement to settle median line dispute in Barents Sea, Sept 2010
  • Statoil announce significant new discoveries in Norwegian Barents
  • East Greenland licence round 2012 & 2013
  • ExxonMobil announce joint venture with Rosneft in the South Kara Sea (Aug 2011)
 
Last Updated: 4/29/13