Oil & Gas Exploration In the Arctic Region - Analysis of Exploration & Development Plans in this Environmentally Sensitive Area

Oil & Gas Exploration In the Arctic Region - Analysis of Exploration & Development Plans in this Environmentally Sensitive Area

Summary

“Oil & Gas Exploration In the Arctic Region - Analysis of Exploration & Development Plans in this Environmentally Sensitive Area” is the latest report from GlobalData, the industry analysis specialist. The report highlights the oil and gas exploration potential of the Arctic region, providing details of the key exploration areas, major companies exploring the Arctic and the drivers and challenges of oil and gas exploration in the Arctic. The report discusses the leasing and exploration activities in the US, Greenland, Canada, Iceland, Norway and Russia, detailing concessions awarded, new licensing rounds, companies involved and the drivers and challenges to development.

According to the report, due to climate change the Arctic ice cover is declining. If this continues, the Arctic will become accessible for the exploration and production of oil and gas in about 60-70 years. This has created a race between the Arctic littoral countries to claim more of the Arctic region in order to secure future energy needs from the region.

Scope

The report analyzes the oil and gas exploration activities in the Arctic. The scope of the report includes -
- The report provides an overview of the oil and gas exploration in the Arctic
- The report discusses the major issues and drivers affecting oil and gas exploration in the Arctic
- The report details the exploration license awards and new licensing rounds in the Arctic littoral countries, such as the US, Canada, Greenland, Iceland, Norway and Russia
- The report analyzes the competitive structure of the oil and gas exploration in the Arctic, providing information on the major companies operating in the region
- The report provides information on current oil and gas exploration activities in the Arctic littoral countries, such as the US, Canada, Greenland, Iceland, Norway and Russia
- The report also discusses the possible environmental implications of oil and gas exploration in the Arctic

Reasons to buy

The report will enhance your decision making capability. It will allow you to -
- Develop business strategies with the help of specific insights into the oil and gas exploration market in the Arctic
- Identify opportunities and challenges in the market.
- Plan your strategies based on expected developments in the market.
- Understand the competitive landscape of this emerging market.
- Keep yourself informed of the key developments in this potentially game changing market SHOW LESS READ MORE >

1
1

1.1 List of Tables
1.2 List of Figures
2 Introduction
2.1 Overview
2.2 GlobalData Report Guide
3 Arctic – A Frontier Oil and Gas Exploration Prospect
3.1 Oil and Gas Exploration in the Arctic – An Overview
3.1.1 Arctic Region Holds Significant Undiscovered Hydrocarbon Resources
3.1.2 Key Hydrocarbon Bearing Basins in the Arctic
3.1.3 Major Oil and Gas Discoveries in the Arctic
3.2 Developing Oil and Gas Resources in the Arctic– Key Drivers and Challenges
3.2.1 Huge Potential Reserves and Innovative Offshore Drilling Technologies Will Drive the Development of Oil & Gas Resources in the Arctic
3.2.2 Environmental Concerns, Harsh Climatic Conditions and Territorial Disputes Between Nations Might Hamper the Development of Arctic Oil & Gas Resources
4 Oil and Gas Exploration in the Arctic - Current Industry Activity
4.1 Oil and Gas Exploration Activity in Alaska
4.2 Oil and Gas Exploration Activity in Canada
4.3 Oil and Gas Exploration Activity in Greenland
4.4 Oil and Gas Exploration Activity in Iceland
4.5 Oil and Gas Exploration Activity in Norway
4.6 Oil and Gas Exploration Activity in Russia
5 Oil and Gas Exploration in the Arctic - Major Companies at the Forefront of Developing Projects
5.1 Major Companies Operating in the Arctic Region
5.1.1 BP Plc
5.1.2 Cairn Energy
5.1.3 Chevron Corporation
5.1.4 Nunaoil
5.1.5 Royal Dutch Shell
5.1.6 Statoil S.A
5.2 Investment by Major Companies in Arctic’s Oil and Gas Resources
6 Appendix
6.1 Sources
6.2 Market Definitions
6.3 Abbreviations
6.3.1 Methodology
6.3.2 Coverage
6.3.3 Secondary Research
6.3.4 Primary Research
6.3.5 Expert Panel Validation
6.4 Contact Us
6.5 Disclaimer

1.1 List of Tables
Table 1: The Arctic Region, Conventional Oil and Natural Gas Resources (Mean Estimated Undiscovered Technically Recoverable) By Province, 2011
Table 2: The Arctic, Alaska OCS Region, Active Lease Summary Table, To October 2010
Table 3: The Arctic, Alaska, Five-Year Oil and Gas Leasing Program, 2011-2015
Table 4: The Arctic, Greenland, Licenses Awarded in the 2010 Licensing Round, 2010

1.2 List of Figures
Figure 1: The Arctic Region, Geographic Location
Figure 2: The Arctic Region, Probability of the Presence of at Least One Undiscovered Oil And/or Gas Field with Recoverable Resources Greater than 50 MMboe
Figure 3: The Arctic Region, Undiscovered Gas, Map
Figure 4: The Arctic Region, Undiscovered Oil, Map
Figure 5: Regional Concentration of Arctic Oil and Gas Resources by Continental Land Mass
Figure 6: The Arctic Region, Discovered Fields
Figure 7: The Arctic, Ice Gouging Problem in the Construction of Pipelines in the Offshore Arctic
Figure 8: The Arctic, Issue of Permafrost Thawing in the Construction of Pipelines in the Offshore Arctic
Figure 9: The Arctic, Issue of Upheaval Buckling in the Construction of Pipelines in the Offshore Arctic
Figure 10: The Alaska Region, Outer Continental Shelf Lease Ownership, Beaufort Sea, To October 2010
Figure 11: The Arctic, Alaska Region, Outer Continental Shelf Lease Ownership, Chukchi Sea, To October 2010
Figure 12: The Arctic, Alaska, Five-Year Oil and Gas Leasing Program, 2011-2015
Figure 13: The Arctic, Alaska, Five-Year Oil and Gas Leasing Program Public Notification Schedule for an Area-Wide Lease Sale, 2011-2015
Figure 14: The Arctic, Alaska, Five-Year Oil and Gas Leasing Program, Cook Inlet Area-Wide, 2011-2015
Figure 15: The Arctic, Alaska, Five-Year Oil and Gas Leasing Program, Beaufort Sea Area-Wide, 2011-2015
Figure 16: The Arctic, Alaska, Five-Year Oil and Gas Leasing Program, North Slope Area-Wide, 2011-2015
Figure 17: The Arctic, Alaska, Five-Year Oil and Gas Leasing Program, North Slope Foothills Area-Wide, 2011-2015
Figure 18: The Arctic, Alaska, Five-Year Oil and Gas Leasing Program, Alaska Peninsula Area-Wide, 2011-2015
Figure 19: The Arctic, Alaska, North Slope Oil and Gas Activity, 2011
Figure 20: The Arctic, Canada, Winning Bids, 2010–2011
Figure 21: The Arctic, Canada, Central Mackenzie Valley Winning Bids, 2010–2011
Figure 22: The Arctic, Greenland, Licenses Awarded in the 2010 Licensing Round, 2010
Figure 23: The Arctic, Greenland, Area to be Allotted for Licensing in the Licensing Round 2012–2013
Figure 24: The Arctic, Iceland, Blocks on Offer in Second Licensing Round, 2011
Figure 25: The Arctic, Norway, Licenses Awarded in the Licensing Round 2010
Figure 26: The Arctic, Norway, Licensing Round 2011, Predefined Area for Licensing, 2010
Figure 27: BP Exploration and Production in Alaska, 2011
Figure 28: BP, Location and Scale of South Kara Sea Licenses
Figure 29: Greenland, Licenses Awarded, Cairn Energy, To 2010
Figure 30: The Arctic, Greenland, Exploration Licenses with Nunaoil Stakes
Figure 31: The Arctic, Exploration Licenses with Royal Dutch Shell, To 2010

“Oil & Gas Exploration In the Arctic Region - Analysis of Exploration & Development Plans in this Environmentally Sensitive Area” is the latest report from GlobalData, the industry analysis specialist. The report highlights the oil and gas exploration potential of the Arctic region, providing details of the key exploration areas, major companies exploring the Arctic and the drivers and challenges of oil and gas exploration in the Arctic. The report discusses the leasing and exploration activities in the US, Greenland, Canada, Iceland, Norway and Russia, detailing concessions awarded, new licensing rounds, companies involved and the drivers and challenges to development.

The Arctic has Approximately One-Quarter of the World’s Undiscovered Technically Recoverable Oil and Gas Resources

The Arctic region contains about 6% of the Earth’s landmass and is estimated to have approximately 22% of the world’s undiscovered oil and gas resources that can be recovered using the currently available technology. The region accounts for about 30% of the world’s undiscovered natural gas, 13% of the world’s undiscovered oil and 20% of the world’s undiscovered natural gas liquid (NGL).

The hydrocarbon riches of the Arctic has been long known to the world but have remained unexploited due to its thick ice cover, harsh climatic conditions, lack of appropriate technology, and the high cost of recovering oil.

Due to declining oil production from the existing onshore fields and the declining number of significant onshore discoveries, the oil producing nations and companies are turning to untouched areas with high potential for oil and gas resources. The high oil prices prevalent in the current market scenario and access to advanced technology are encouraging countries and oil and gas companies to exploit hydrocarbon resources in the Arctic region.

Receding Polar Ice-Caps Leading to Disputes Between Countries in the Arctic

Climate change is causing the polar ice-caps to melt and this is freeing area from under the ice for exploration and navigation in the Arctic region. The Arctic littoral countries, the US (Alaska), Canada, Greenland, Iceland, Norway and Russia have territorial waters in the Arctic Ocean that extend for 200 nautical miles from their respective coast lines. These countries are vying to extend their territories beyond the allotted extents to claim a greater area of the resource-rich Arctic region. This has given rise to disputes between these countries.

The ice in the Arctic region is expected to melt and free more land in the future. The Arctic region is believed to currently contain about a quarter of the world’s hydrocarbon resources and other precious metals. The melting ice will also free crucial navigation paths between Europe and East Asia. The melting ice in the Arctic region has resulted in a race between Arctic countries to secure more land. Arctic littoral countries are increasing their military presence in the region to secure their Arctic territories, while also exerting ways to extend these territories.

Disputes between Arctic littoral countries are a result of the ice-caps melting and the global urgency to locate more oil and gas resources as the existing levels fall.