Abstract
Arctic offshore is considered to have high potential for new commercial discoveries of oil and natural gas. One of the most engaged countries in the offshore Arctic oil and natural gas resources development is Russia. However, due to the changing geopolitical and geoeconomic landscape Arctic offshore oil and natural resources development experience some challenges. The study focuses on evaluating Arctic offshore oil and natural gas resources development perspectives in Russia for a long-term period. This includes an algorithm and guidelines to identify the long-term strategic directions for the development these resources, and a scenario planning forecast of their development until 2050. The maximum annual projected production volumes of oil and natural gas combined from the offshore fields in the Russian Arctic compose approximately 1% of total production in Russia in 2016. Based on the obtained results, it is necessary to adjust the strategy for developing the offshore oil and natural gas resources in the Russian Arctic in accordance to the potential production volumes and changing macroeconomic situation.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
