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Oil and gas resources in Arctic offshore: Competitive aspects



Morgunova M.O., Kucherov V.G. (Royal Institute of Technology, Sweden, Stockholm; Gubkin Russian State University of Oil and Gas, RF, Moscow), Bessel V.V. (Gubkin Russian State University of Oil and Gas, RF, Moscow; OOO NewTech Services RF, Moscow)

E-mail: maymorgunova@mail.ru

This paper focuses on ongoing prospects with Arctic offshore oil and gas development for Russia, Canada, the US, and Norway. After gradual recovery the global energy market has now entered a relatively turbulent phase, largely driven by numerous economic and geopolitical factors. Existing prospects for unconventional and frontier oil and gas development has fallen under low crude price pressure globally. This analysis has assessed and quantified the existing stock of oil fields in Arctic offshore and draws viable conclusions regarding the relative competitiveness of hydrocarbons potentially available there. It also provides expert estimates related to oil and gas prospects for Russia. The paper builds on a dedicated study supplemented by energy market fundamentals research.

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