Page 64: of Offshore Engineer Magazine (Dec/Jan 2013)

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Johan Castberg

Skrugard (2011)

Arctic

Havis (2012)

Gas

Oil

Water

Dry (1988) • A new oil province in the

Barents Sea • 400 - 600 mboe • Potential hub for other discoveries

Russia, in terms of estimates of yet to be Russia-led exercise. Rosneft and Exxon partnership. found resources. The opportunity in the Kara Sea aside, Single year ice covers the Beaufort

The Kara Sea contains an estimated Daly says that the Arctic possibility is Sea for nine months of the year, and 127 billion boe compared to 62 billion signifcant, citing two untested basins; BP’s 3D seismic coverage remains the boe estimated in the Barents. Alaska, the Laptev Sea, in Russia, and the deep- northern-most survey yet acquired. The

Beaufort, North Slope and Chukchi Seas water Beaufort, in Canada. The Laptev geology seems favourable, even outside contain approximately 72 billion boe, Sea basin is an up to 10km-deep com- the Kara Sea, responding well to modern according to fgures from the United pletely-unexplored rift basin, well-illu- seismic and with some big unknowns to

States Geological Survey. minated by seismic refection data. Its be explored.

Russia has recently licensed much of age is uncertain, but regionally, prolifc Daly concludes: “The Arctic has sig- its frontiers at favorable terms, with drill- Mesozoic source rocks are well known. nifcant potential, but the license to oper- ing scheduled to commence next year, The challenge is that the Lapdev Sea ate remains uncertain outside Russia.

potentially making Arctic exploration a is covered in multi-year ice, nine to ten Rosneft, in Russia, will lead in Arctic off- months a year. This basin is due to be shore exploration, but it is unclear how tested by the end of the decade by the fast the rest of the world will follow?”

Motivation to explore and develop

He pointed out that different types ranging from Mexico and Alaska) is 10

Arctic development the workable, where solutions years, but during that decade takes time. There had been a can be based on existing tech- the effective operating period quarter of a century between nology, such as the Barents in the Chukchi Sea is only discovery and development Sea, through to the stretch, two and a half to three years. of the Snøhvit feld, in a where solutions are expected The license term offshore relatively shallow water to be achieved with focused Canada is nine years, but the area of the Arctic Barents technology investment in the effective operating period

Sea was opened up medium to long-term, e.g. the is only one and half to two for exploration in Beaufort Sea, to the extreme, years.

But geology isn’t 1980. The Askeladd requiring long-term focus and Doré concluded that Arctic the main challenge gas discovery was made in investment in technology, to exploration and develop- 1981. Albatross in 1982, and achieve solutions, such as ment will be stepwise in the Arctic

Snøhvit in 1984. The Snøhvit northeast Greenland. and that nobody can do it have been working on this project was fnally approved Another diffculty is the alone. Partnership models for decades. There is a lot in 2002, and started up in length of the licensing peri- are critical, company plus of information. On the other 2007. ods. Is there enough time to government, company plus hand, we have not actually “There is not just one operate? The license term company, company plus local had a real one.” Arctic,” he added. There are for the US offshore (Gulf of stakeholders. •

December 2013 | OE oedigital.com 66 064_OE1213_Arctic4_new.indd 66 11/22/13 5:38 PM