The U.
S. Geological Survey (USGS) recently assessed the potential for undiscovered oil and gas resources of the Lena-Vilyui Basin Province,north of the Arctic Circle, as piece of the Circum-Arctic Resource Appraisal program. The province is in the Russian Federation and is situated between the Verkhoyansk fold-and-thrust belt and the Siberian craton. The one assessment unit (AU) defined for this study—the Northern Priverkhoyansk Foredeep AU—was assessed for undiscovered, and technically recoverable resources. The estimated mean volumes of undiscovered resources for the Northern Priverkhoyansk Foredeep in the Lena-Vilyui Basin Province are ~400 million barrels of crude oil,1.3 trillion cubic feet of natural gas, and 40 million barrels of natural-gas liquids, or practically all (99.49 percent) of which is north of the Arctic Circle.
Source: usgs.gov