July 9, 2009
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Most Barents Sea Oil Lies Under Russian Claim

The Barents Sea shelf may contain as much as 76 billion barrels of oil equivalent possible technical recoverable, according to the latest estimates made by U.S. Geological Survey.

The estimates of the undiscovered petroleum say most of it appears to be in the East Barents basin province, with other words; in the Russian part of the Barents Sea.

In comparison, the Norwegian Petroleum Directorate figure estimates the Norwegian part of the North Sea to contain 29 billion barrels of oil, of which 60 percent were already produced to January 2007, according to Wikipedia.

The Oil and Gas Journal  referring to U.S. Geological Survey’s report says the mean estimate of undiscovered, conventional, technically recoverable petroleum resources in four geologic provinces on the Barents shelf included 11 billion bbl of oil, 380 tcf of natural gas, and 2 billion bbl of natural gas liquids.

Copyright 2009 Barents Observer. All rights reserved.


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