Polar potential

Published on:

31 Aug 2008, 12:00 am

The rapid disappearance of the Arctic sea ice in recent years and a record melt in 2007 due to global warming has led to a mad rush among countries bordering the region to claim petroleum deposits beneath the ocean floor

At stake is

22 per cent

petroleum deposits

90 billion barrels

1,670 trillion cubic feet

44 billion barrels

50 per cent

0 per cent

three times

Major players

Russia

expedition

Canada

military centre,

Danish

month-long voyage

coast guard vessel

Cutter Healy

northern Chukchi Cap

Battle lines

Canada, Denmark

Russia

Lomonosov Ridge

Norway

Barents Sea

Russia

Contested zones Major petroleum deposits beneath Arctic’s ocean floor
Geological province	Oil (MMBO)	Natural gas (BCFG)	Natural gas liquid (MMBNGL)
West Siberian Basin	3,659.88	651,498.56	20,328.69
Arctic Alaska	29,960.94	221,397.60	5,904.97
East Barents Basin	7,406.49	317,557.97	1,422.28
East Greenland Rift Basins	8,902.13	86,180.06	8,121.57
Amerasia Basin	9,723.58	56,891.21	541.69
MMBO million barrels of oil; BCFG billion cubic feet of natural gas; MMBNGL million barrels of natural gas liquids