The U.
S. Geological Survey (USGS) has recently assessed the potential for undiscovered oil and gas resources in the Northwest Laptev Sea Shelf Province as allotment of the USGS Circum-Arctic Resource Appraisal. The province is in the Russian Arctic,east of Severnaya Zemlya and the Taimyr fold-and-thrust belt. The province is separated from the rest of the Laptev Sea Shelf by the Severnyi transform fault. One assessment unit (AU) was defined for this study: the Northwest Laptev Sea Shelf AU. The estimated mean volumes of undiscovered petroleum resources in the Northwest Laptev Sea Shelf Province are approximately 172 million barrels of crude oil, 4.5 trillion cubic feet of natural gas, and 119 million barrels of natural-gas liquids,north of the Arctic Circle.
Source: usgs.gov