Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
Articles about the Arctic inevitably extol its virtues, citing estimates from the U.S. Geological Survey of more than 400 Bbbl of technically recoverable resources in the ice-bound region, Fig. 1. Close to 85% of these resources are estimated to be offshore, and thought to be principally gas. The Arctic is the last frontier, and soon, very soon we are told, the oil and gas industry will benefit hugely from its development. Some of this is undoubtedly true. Exxon Mobil and Shell have huge investments on Russia’s Sakhalin Island, and a number of operators have achieved success investing in Canada’s Atlantic waters offshore Nova Scotia and Newfoundland. But, elsewhere, the challenges loom larger. In Canada’s Northwest Territories, the offshore region is ostensibly open for exploration, but the conditions are sufficiently onerous that operators are uninterested. In Greenland, the new government has restricted the issuance of new offshore leases, and no one has yet demonstrated that Greenland has commercial potential. In Norway, Statoil postponed the Johan Castberg (Skrugard) development following tax hikes there. But nowhere is the situation more acute than in Alaska, where a combination of changing industry economics, a conflicted voter base, and an unhelpful U.S. administration are conspiring to strand a resource with comparable potential to the Gulf of Mexico.
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.
Houston, TX - November 4-5
All material subject to strictly enforced copyright laws.
© 2014 World Oil. © 2014 Gulf Publishing Company.