Oil giants turn to Arctic promised land

Sky-high prices and dwindling supplies have rekindled the interest of oil companies in the Arctic region, which remains largely unexplored and could hold a quarter of the world’s undiscovered oil and gas reserves.
“After a relative lack of interest in the 1990s, we have seen a resurgence in the appeal of the Barents Sea and we think this is likely to continue,” Norwegian deputy oil and energy minister Anita Utseth told AFP.

terradaily