REGIONAL REPORT THE ARCTIC Despite offshore delays, Arctic projects advance and new areas are opened

摘要

Facing the Arctic's hostility is undeniably daunting. ExxonMobil recently listed the region's unique challenges: remote location, changing ecology icebergs, prolonged darkness, mobile pack ice, severe storms, permafrost, earthquakes, a sensitive environment and deep water. Regulatory caution resulting from the Macondo well blowout and significant new gas supply-especially due to the expansion of North American shale development-have further complicated the Arctic search. But the potential reward is as big as the challenge. The US Geological Survey estimates undiscovered Arctic reserves at 90 billion bbl of oil, 1,669 Tcf of natural gas and 44 billion bbl of natural gas liquids (NGLs).