More than 90 Percent of Deposits on Russia’s Arctic Shelf Still Undiscovered – Report

PHOTO by vitstudio / Depositphotos

According to remarks made at the Arctic Days forum in Moscow by Sergey Donskoy, Minister of Natural Resources and the Environment of the Russian Federation, the potential percentage of undiscovered oil and gas in Russia’s Arctic shelf is possibly as high as 91%.

“In the Russian Arctic continental zone, more than 300 oil and gas deposits have been discovered but only 19 on the Arctic shelf,” Donskoy said. “According to experts, the potential of untapped hydrocarbons in the Arctic zone is as high as 91% on the shelf and 53% on land.”