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Arctic resources • More oil-prone than

Arctic

Arctic gas-prone

Alaska/

Beaufort ~70 Bboe • High potential, high uncertainty

Eastern Russia ~130 Bboe • Key role in long-term global energy supply?

Barents Region

Greenland/ ~60 Bboe

E. Canada ~50 Bboe 400+ discoveries 200+ BBOE proven ~150 BBOE yet-to-?nd the exploration itself and to the compa- nies that work there, according to Dr.

Untested

Michael C. Daly, BP’s vice president of exploration. “The Arctic is perceived as the last opportunities pristine part of our planet,” he told the event, called told the event, called 100

Representatives from BP and Statoil Years and Beyond: Future Petroleum

E&P majors BP and Statoil discussed both the challenges associated Science and Technology Drivers. presented their views on with and future plans for developing “The Arctic has specifc technical

Arctic properties at a conference held at challenges to overcome. In particular, the future exploration

Imperial College London this fall. industry should seek to assure proper oil “The biggest issue for international oil spill response capability in ice-bound prospects in the Arctic. companies, in terms of Arctic explo- marine environments. Yet many of the

Meg Chesshyre reports. ration, is the public response, both to owners of the Arctic waters and the

Castberg, containing 400- 600 area. The East Greenland Laptev and Chukchi Seas.

million bbl of light oil—and licensing rounds were in “The Arctic is an area

Statoil— it is a potential hub for other 2012 and 2013. Norway where the geology is seduc- discoveries. Two more very followed up with a successful tive, but there have been

The Barents Sea different oil discoveries Barents Sea licensing round setbacks, largely through cost “The Barents Sea seems to were announced this year— last year. Then there have issues,” Doré says (see pages be fnally taking off, 30 years Tullow’s Wisting (7324/8-1), been big license awards in 60-62). on into the exploration of the in which Statoil has a 15% Russia—a landmark award to Yet, the Arctic is already province,” Tony Doré, Statoil stake, and Lundin’s Gohta an ExxonMobil joint venture a major province, Doré says. senior advisor and a member (7120/1-3). with Rosneft in South Kara There have been 200 billion of the international explora- Giving an overview of Sea in 2011, with the frst well bbl of discoveries so far, tion management team, told recent activity in arctic due to be drilled there next almost all on land—in Siberia, the conference. waters, he said Cairn has year, followed by Statoil and and the North Slope. There

Statoil made the Skrugard been drilling an eight well ENI agreements with Rosneft is high potential, he says, but discovery in 2011, and the program off West Greenland, in the former Barents disputed also high uncertainty.

Havis discovery in 2012, from 2010. The Norway- zone in 2012. The biggest ”Geology isn’t the main in the western part of the Russian border settlement in award, to the ExxonMobil challenge in the Arctic,” he

Barents Sea. This is now clas- Barents Sea came in 2010, and Rosneft partnership, was says. ”Geology basically gives sifed as one province—Johan allowing exploration in that then made in the North Kara, the bottom of the pyramid,

December 2013 | OE oedigital.com 64 064_OE1213_Arctic4_new.indd 64 11/22/13 5:37 PM