A 2008 united states geological survey estimates that areas north of the arctic circle have 90 billion barrels of undiscovered technically recoverable oil and 44 billion barrels of natural gas liquids in 25 geologically defined areas thought to have potential for petroleum this represents 13 of the undiscovered oil in the world. Challenges of oil gas exploration in the arctic the arctic is a cold remote dark dangerous and expensive place to explore for oil and natural gas the arctics vast oil resource and the high price of oil are what currently attract attention to the arctic area. The arctic could hold some of the worlds largest remaining untapped oil and gas reserves sustainability must be prioritized over exploitation in the arctic because the implications are global. The long history of oil spills around the world has made one thing clear the only way to prevent an oil spill is to keep oil in the ground fragile arctic ice and tricky weather conditions make a spill in the region even more likely. The arctic ocean is one of the most pristine and fragile places left on the planet and its in trouble in january the trump administration called for the removal of crucial arctic protections in a new draft proposal of where oil and gas companies can purchase leases for offshore drilling
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