Featured Research

from universities, journals, and other organizations

Huge Amount Of Fossil Fuels In Arctic: 90 Billion Barrels Of Oil And 1,670 Trillion Cubic Feet Of Natural Gas

Date:
July 24, 2008
Source:
U.S. Geological Survey
Summary:
The area north of the Arctic Circle has an estimated 90 billion barrels of undiscovered, technically recoverable oil, 1,670 trillion cubic feet of technically recoverable natural gas, and 44 billion barrels of technically recoverable natural gas liquids in 25 geologically defined areas thought to have potential for petroleum. These resources account for about 22 percent of the undiscovered, technically recoverable resources in the world.

Overturned sedimentary rocks of the Lisburne Group under a midnight rainbow near Galbraith Lake, Alaska, summer 2001.
Credit: USGS photo by David Houseknecht

The area north of the Arctic Circle has an estimated 90 billion barrels of undiscovered, technically recoverable oil, 1,670 trillion cubic feet of technically recoverable natural gas, and 44 billion barrels of technically recoverable natural gas liquids in 25 geologically defined areas thought to have potential for petroleum.

The U.S. Geological Survey assessment released July 24 is the first publicly available petroleum resource estimate of the entire area north of the Arctic Circle.

These resources account for about 22 percent of the undiscovered, technically recoverable resources in the world. The Arctic accounts for about 13 percent of the undiscovered oil, 30 percent of the undiscovered natural gas, and 20 percent of the undiscovered natural gas liquids in the world. About 84 percent of the estimated resources are expected to occur offshore.

"Before we can make decisions about our future use of oil and gas and related decisions about protecting endangered species, native communities and the health of our planet, we need to know what's out there," said USGS Director Mark Myers. "With this assessment, we're providing the same information to everyone in the world so that the global community can make those difficult decisions."

Of the estimated totals, more than half of the undiscovered oil resources are estimated to occur in just three geologic provinces - Arctic Alaska, the Amerasia Basin, and the East Greenland Rift Basins. On an oil-equivalency basis, undiscovered natural gas is estimated to be three times more abundant than oil in the Arctic. More than 70 percent of the undiscovered natural gas is estimated to occur in three provinces - the West Siberian Basin, the East Barents Basins, and Arctic Alaska.

The USGS Circum-Arctic Resource Appraisal is part of a project to assess the global petroleum basins using standardized and consistent methodology and protocol. This approach allows for an area's petroleum potential to be compared to other petroleum basins in the world. The USGS worked with a number of international organizations to conduct the geologic analyses of these Arctic provinces.

Technically recoverable resources are those producible using currently available technology and industry practices. For the purposes of this study, the USGS did not consider economic factors such as the effects of permanent sea ice or oceanic water depth in its assessment of undiscovered oil and gas resources. The USGS is the only provider of publicly available estimates of undiscovered, technically recoverable oil and gas resources.

Exploration for petroleum has already resulted in the discovery of more than 400 oil and gas fields north of the Arctic Circle. These fields account for approximately 40 billion barrels of oil, more than 1,100 trillion cubic feet of gas, and 8.5 billion barrels of natural gas liquids. Nevertheless, the Arctic, especially offshore, is essentially unexplored with respect to petroleum.


Story Source:

The above story is based on materials provided by U.S. Geological Survey. Note: Materials may be edited for content and length.


Cite This Page:

U.S. Geological Survey. "Huge Amount Of Fossil Fuels In Arctic: 90 Billion Barrels Of Oil And 1,670 Trillion Cubic Feet Of Natural Gas." ScienceDaily. ScienceDaily, 24 July 2008. <www.sciencedaily.com/releases/2008/07/080724115043.htm>.
U.S. Geological Survey. (2008, July 24). Huge Amount Of Fossil Fuels In Arctic: 90 Billion Barrels Of Oil And 1,670 Trillion Cubic Feet Of Natural Gas. ScienceDaily. Retrieved April 23, 2014 from www.sciencedaily.com/releases/2008/07/080724115043.htm
U.S. Geological Survey. "Huge Amount Of Fossil Fuels In Arctic: 90 Billion Barrels Of Oil And 1,670 Trillion Cubic Feet Of Natural Gas." ScienceDaily. www.sciencedaily.com/releases/2008/07/080724115043.htm (accessed April 23, 2014).

Share This



More Matter & Energy News

Wednesday, April 23, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Is North Korea Planning Nuclear Test #4?

Is North Korea Planning Nuclear Test #4?

Newsy (Apr. 22, 2014) South Korean officials say North Korea is preparing to conduct another nuclear test, but is Pyongyang just bluffing this time? Video provided by Newsy
Powered by NewsLook.com
China Falls for 4x4s at Beijing Auto Show

China Falls for 4x4s at Beijing Auto Show

AFP (Apr. 22, 2014) The urban 4x4 is the latest must-have for Chinese drivers, whose conversion to the cult of the SUV is the talking point of this year's Beijing auto show. Duration: 00:40 Video provided by AFP
Powered by NewsLook.com
Hagel Gets Preview of New High-Tech Projects

Hagel Gets Preview of New High-Tech Projects

AP (Apr. 22, 2014) Defense Secretary Chuck Hagel is given hands-on demonstrations Tuesday of some of the newest research from DARPA _ the military's Defense Advanced Research Projects Agency program. (April 22) Video provided by AP
Powered by NewsLook.com
Lytro Introduces 'Illum,' A Professional Light-Field Camera

Lytro Introduces 'Illum,' A Professional Light-Field Camera

Newsy (Apr. 22, 2014) The light-field photography engineers at Lytro unveiled their next innovation: a professional DSLR-like camera called "Illum." Video provided by Newsy
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:
from the past week

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins