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It is estimated that the Arctic holds around 30% of the world’s undiscovered natural gas and 13% of its yet-to-find oil. This amounts to around 400 billion barrels of oil equivalent, 10 times the total oil and gas produced to date in the North Sea.
Sakhalin-2 in Russia’s far East is the world’s largest integrated oil and gas project
Vast resources of oil and natural gas exist in the Arctic. These will be vital in helping to meet rising global energy demand. We have decades of experience of operating in Arctic and subarctic conditions.
In Alaska, USA, and in Canada we have been exploring for and developing oil and gas prospects for decades. In Alaska we acquired a large number of exploration leases in the Beaufort and Chukchi Seas respectively.
With the Sakhalin Energy Investment Company Ltd we have built the world’s largest integrated oil and gas project on Sakhalin Island in Russia’s Far-East. We are also working with Gazprom Neft to develop and produce oil from the Salym fields in remote Western Siberia.
In Norway we are producing gas from the deep-water Ormen Lange field in one of the world’s largest and most complex projects.
Our approach to developing these regions combines advanced technologies and extensive knowledge to help balance economic, environmental and social challenges.