Exploration and Development of the Arctic Offshore – Opening Up the Ulimate Frontier
A significant share of the world's undeveloped and undiscovered oil and gas resources are located in the Arctic. The petroleum industry has made great strides in exploring and developing Arctic resources, further progress, in particular in the offshore regions of the Arctic, will depend on realising complex, integrated projects in extremely remote locations, using new technologies and will require investments on an unprecedented scale.
Dealing responsibly and sustainable with the sensitive Arctic environment and the interests of the autochthonous inhabitants of the Arctic will be as essential as finding viable technical, economic and commercial solutions.
The challenges facing the industry and ways to master them are illustrated by reviewing a number of pioneering Shell projects in the sub-Arctic and Arctic regions of North America, Europe and the CIS, and future trends are outlined. Strong industry partnerships as well as sound fiscal and legal frameworks and co-operation between all major stakeholders are pre-requisites for success in this exciting frontier area, possibly the biggest challenge for our industry in the first half of this century.
AAPG Search and Discover Article #90096©2009 AAPG 3-P Arctic Conference and Exhibition, Moscow, Russia