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The Canadian portion of the Beaufort Sea has been the site of intense interest and bidding in recent licensing rounds. Regional reconnaissance 2D seismic programs designed to image down to the base of the Earth's crust are redefining frontier basin evaluation.
By combining this information with our present
geophysical understanding of the area, it may be
possible to give more refined prognoses of the
subsurface development and economic potential
of analogous structures in this extensive but still
little explored hydrocarbon province.
The new assessment carried out by USGS indicates that northeastern Greenland may
be a very important future petroleum province. If the mean estimate of 31 BBOE were
discovered and proven, this huge basin would rank 19th out of the world’s 500 known
petroleum provinces.
Following a 25 year break, the Labrador Shelf offshore Canada is now again available
for licensing.
The Russian sector of the Chukchi Sea is a frontier exploration province with little seismic data and no wells. Despite this lack of crucial geological information, regional correlations with the American sector indicate that the potential of this vast region may be substantial.
As global interest in the hydrocarbon potenital of the Circum-Arctic increases, it is
becoming vital to unravel the complex geological history of the region.
Large deposits of oil and gas await development and discovery above the
Arctic Circle. The harsh environment and remoteness of the region will
challenge both the technology and economics to exploit these resources.
The dramatic landscape with glaciated fjords surrounded by high, alpine mountain tops makes a visit to Hornsund a special experience.
Interest in this huge geological province has grown strongly over the last few years
following the development of the Snøhvit field, the discovery of the Nucula field
earlier this year and a genuine belief that there is more oil and gas to be found where
both multiple source rock horizons and reservoir layers have been proven.
See Fugro's 2D seismic data -
Read the article
The Laptev Sea Basin is a frontier Arctic basin explored by regional seismic only. Its
thick sedimentary cover is thought to contain numerous potential reservoirs, seals and
mature source rocks, and structural traps are probably abundant. The Lena river Delta
is of special interest for hydrocarbon entrapment.
Having produced over 15 Bbo (2.4 Bm3), Arctic Alaska is one of the most prolific oil producing regions in North America, yet most of the area remains sparsely explored.
The Bristol Bay is a frontier basin with very limited seismic and well data available to the public. Preliminary analyses of the limited subsurface data coupled with surface outcrop data indicate the existence of a Tertiary petroleum system and possibility of an underlying Mesozoic petroleum system. The basin is considered as primarily a gasproneprovince.
Two fields are currently being developed, significant amounts of oil and gas have already been found, and geological studies indicate that this is a promising exploration frontier, possibly making the Barents Sea a major gas and oil supplier in the future.
Despite previous disappointments, geologists can now demonstrate the probable presence of prolific source rocks, good reservoir rocks and huge structures in an area that is now open for licensing.
Canada's oil sands are the world's largest single hydrocarbon resource. The huge volumes of thick, sticky crude oil – bitumen – are now being exploited at an increased pace. Thanks to thriving oil prices and improved technology, production is bound to double and reach two million barrels per day in only a few years time.
Canada's hydrocarbon resources are both plentiful and varied. In addition to conventional resources of light to medium crude oil and gas that have been tapped for more than 150 years, unconventional resources like oil sand, coal bed methane, tight gas, shale gas and gas hydrates represent a vast potential for the future.
The sedimentary basins offshore West-Greenland cover an area comparable to the entire North Sea. As a new licensing is announced, geologists can demonstrate the probable presence of prolific source rocks, good reservoirs and enormous structures.
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