Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
Facing the Arctic’s hostility is undeniably daunting. ExxonMobil recently listed the region’s unique challenges: remote location, changing ecology, icebergs, prolonged darkness, mobile pack ice, severe storms, permafrost, earthquakes, a sensitive environment and deep water. Regulatory caution resulting from the Macondo well blowout and significant new gas supply—especially due to the expansion of North American shale development—have further complicated the Arctic search. But the potential reward is as big as the challenge. The US Geological Survey estimates undiscovered Arctic reserves at 90 billion bbl of oil, 1,669 Tcf of natural gas and 44 billion bbl of natural gas liquids (NGLs).
The regulatory issues related to Arctic exploration and development will eventually be settled, prodded by rising oil and gas prices. And increasing demand will shrink today’s global gas cushion while Arctic gas is being developed, a job that will span decades. To fully exploit the Arctic’s resources, however, industry will need expanded access, continued technological advance and innovative operating procedures. And, of course, it will need capital in amounts that match the Arctic vastness.
This area of the site is restricted.
In order to gain access, please either Log
In, or subscribe to World Oil.
Two options are available to you for creating an account.
1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.
Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.
2. Purchase a subscription to World Oil magazine and gain immediate
and complete access to World Oil Online. As a Total Access subscriber
you will have access to all areas of the site available to registered users and
free subscribers as well as having access to such premium content areas as:
Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.
If you are already a paid subscriber and do not have access, please email CustomerService@worldoil.com.
World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.
Wichita Falls, TX - April 22-23
Bucharest - April 28-30
Houston, TX - May 5-8
All material subject to strictly enforced copyright laws.
© 2014 World Oil. © 2014 Gulf Publishing Company.