Geology and assessment of undiscovered oil and gas resources of the North Kara Basins and Platforms Province, 2008

The U.S. Geological Survey (USGS) recently assessed the potential for undiscovered oil and gas resources of the North Kara Basins and Platforms Province as part of the its Circum-Arctic Resource Appraisal. This geologic province is north of western Siberia, Russian Federation, in the North Kara Sea between Novaya Zemlya to the west and Severnaya Zemlya to the east. One assessment unit (AU) was defined, the North Kara Basins and Platforms AU, which coincides with the geologic province. This AU was assessed for undiscovered, technically recoverable resources. The total estimated mean volumes of undiscovered petroleum resources in the province are ~1.8 billion barrels of crude oil, ~15.0 trillion cubic feet of natural gas, and ~0.4 billion barrels of natural-gas liquids, all north of the Arctic Circle.