Arctic Oil & Gas: 25% of World’s Reserves Beneath Arctic Seabed

Arctic Oil & Gas Corp. has provided shareholders with new data and commentary on the Arctic Commons.

Arctic Oil and Gas Corp. and its partners made an international Arctic Commons hydrocarbons claim on May 9th 2006 with the United Nations and the five Arctic countries. This claim is for the exclusive exploitation, development, marketing and extraction rights to the oil and gas resources of the seafloor and subsurface contained within the “Arctic Claims”; an area of the Arctic Ocean that has no country’s claims to it; or simply, the open area in between all of the Arctic-bordering countries.


The Arctic Ocean Basin was once one great-fresh-water matted Azolla-rich pond, capturing untold billions of tons of organic sediments. It is believed to hold vast reserves of untapped oil and natural gas, which is expected to become accessible as new deep-sea drilling and hydrocarbons production technology becomes available.

Within an area approximately ten times larger than Iraq, recent scientific drilling and seismic testing found indications that oil source rocks containing large percentages of organic rich sediments cover the entire Arctic Ocean seafloor.

RigZone