Among the greatest uncertainties in future energy supply and a subject of considerable environmental concern is the amount of oil and gas yet to be found in the Arctic. By using a probabilistic geology-based methodology, the United States Geological Survey has assessed the area north of the Arctic Circle and concluded that about 30% of the world's undiscovered gas and 13% of the world's undiscovered oil may be found there, mostly offshore under less than 500 meters of water. Undiscovered natural gas is three times more abundant than oil in the Arctic and is largely concentrated in Russia. Oil resources, although important to the interests of Arctic countries, are probably not sufficient to substantially shift the current geographic pattern of world oil production.

Circum-Arctic Resource Appraisal: Estimates of Undiscovered Oil and Gas North of the Arctic Circle T he U.S. Geological Survey (USGS) has completed an assessment of undiscovered conventional oil and gas resources in all areas north of the Arctic Circle. Using a geologybased probabilistic methodology, the USGS estimated the occurrence of undiscovered oil and gas in 33 geologic provinces thought to be prospective for petroleum. The sum of the mean estimates for each province indicates that 90 billion barrels of oil, 1,669 trillion cubic feet of natural gas, and 44 billion barrels of natural gas liquids may remain to be found in the Arctic, of which approximately 84 percent is expected to occur in offshore areas.

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The USGS has assessed undiscovered petroleum resources in the Arctic through geological mapping, basin analysis and quantitative assessment. The new map compilation provided the base from which geologists subdivided the Arctic for burial history modelling and quantitative assessment. The CARA was a probabilistic, geologically based study that used existing USGS methodology, modified somewhat for the circumstances of the Arctic. The assessment relied heavily on analogue modelling, with numerical input as lognormal distributions of sizes and numbers of undiscovered accumulations. Probabilistic results for individual assessment units were statistically aggregated taking geological dependencies into account. Fourteen papers in this Geological Society volume present summaries of various aspects of the CARA.

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