Arctic Oil and Gas: Assessing the Potential for Hydrocarbon Development in the Polar Region

 The U.S. Geological Survey (USGS) world petroleum assessment from 2000 estimated that 25 per cent of the remaining recoverable undiscovered oil and gas resources in the world were located in the Arctic region. Although these figures proved inaccurate and were subsequently revised downward, e.g. in the 2008 Circum-Arctic Resource Appraisal,