Usgs assessment: Circum-Arctic Resource Appraisal
eia.gov: Forecasts & Analysis > Natural Gas Analysis Reports
eia.gov: Forecasts & Analyses > Natural Gas Analysis Reports > Arctic Oil and Natural Gas Potential, 2009
The Arctic is defined as the Northern hemisphere region located north of the Arctic Circle.
The Arctic could hold about 22 percent of the world’s undiscovered conventional oil and natural gas resources.
Discovered Arctic Oil and Natural Gas Resources
The best place to find oil and natural gas is where oil and natural gas have already been found.
Large Arctic oil and natural gas discoveries began in Russia with the discovery of the Tazovskoye Field in 1962 and in the United States with the Alaskan Prudhoe Bay Field in 1967. Approximately 61 large oil and natural gas fields have been discovered within the Arctic Circle in Russia, Alaska, Canada’s Northwest Territories, and Norway. Fifteen of these 61 large Arctic fields have not yet gone into production; 11 are in Canada’s Northwest Territories, 2 in Russia, and 2 in Arctic Alaska.
Forty-three of the 61 large Arctic fields are located in Russia. Thirty-five of these large Russian fields (33 natural gas and 2 oil) are located in the West Siberian Basin. Of the eight remaining large Russian fields, five are in the Timan-Pechora Basin, two are in the South Barents Basin, and one is in the Ludlov Saddle.
Of the 18 large Arctic fields outside Russia, 6 are in Alaska, 11 are in Canada’s Northwest Territories, and 1 is in Norway.
Arctic Undiscovered Technically Recoverable, Conventional Oil and Natural Gas Resources
The USGS Arctic assessment estimated a total oil and natural gas resource of 412 billion barrels of oil equivalent, with 78 percent of those resources expected to be natural gas and natural gas liquids (NGL). The composition of undiscovered Arctic hydrocarbons is largely determined by the West Siberian Basin and East Barents Basin, which hold 47 percent of the undiscovered Arctic resources, with 94 percent of those resources being natural gas and NGL.
According to the USGS mean estimate, the Arctic holds about 22 percent of the world’s undiscovered conventional oil and natural gas resource base, about 30 percent of the world’s undiscovered natural gas resources, about 13 percent of the world’s undiscovered oil resources, and about 20 percent of the world NGL resources