Boston, MA -- (SBWIRE) -- 11/28/2012 -- "Oil and Gas Exploration in the Arctic - Vast, Technically Recoverable Oil and Gas Resources Attract International Oil Companies to Increase Presence in the Region" 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 key exploration areas, major companies exploring the Arctic and the drivers and challenges of oil and gas exploration in the Arctic region. The report discusses leasing and exploration activities in the US (Alaska), Greenland, Canada, Norway and Russia, detailing exploration and production operations of major international oil companies involved and key drivers and challenges for development in the environmentally sensitive region.

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Scope

The report analyzes oil and gas exploration activities in the Arctic region. The scope of the report includes -

- The report provides an overview of the oil and gas resources in the Arctic.
- The report discusses the major issues and factors driving International Oil Companies (IOCs) to establish their presence in the Arctic.
- The report also provides updates relating to recent developments encouraging developments in the Arctic region.
- The report details the exploration activities carried out by Rosneft, ExxonMobil Corporation, Statoil, Cairn Energy Plc, Royal Dutch Shell and BP PLc.
- The report also discusses the possible environmental implications of oil and gas exploration in the Arctic.

Highlights

Crisis or Opportunity? Melting Arctic Ice Caps Opens the Freezer Door for Big Oil

Although the corrosion of polar sea ice is considered by many to be the foremost indicator of environmental damage, it may also represent the opening the world's major oil firms have been waiting for, says business intelligence provider GlobalData in a new report.

As the firm's latest publication* explores, global warming has resulted in a dramatic decrease in Arctic ice cover, revealing highly prized drilling locations in a region estimated to hold nearly 22% of the world's undiscovered oil and gas resources.

The report continues to highlight the area's enormous hydrocarbon wealth, including 90 billion barrels (bbls) of oil, 1,669 trillion cubic feet (tcf) of natural gas, and 44 billion bbls of Natural Gas Liquids (NGLs).

Several Arctic nations such as Russia, Canada and Denmark are staking their claim regarding the extended continental shelf and several National Oil Companies (NOCs) have undertaken exploration expeditions in the recently exposed region in preparation for what they expect to be highly fruitful oil and gas production activities.

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