Depleting Reserves in Major Oil and Gas Producing Fields Prompting Russia to Expedite Exploration Activities in its Arctic Region in Alliance with Foreign Firms - Depleting hydrocarbon reserves in major oil and gas producing fields in Russia has prompted the Russian government to expedite its exploration activity in the Arctic region. Russia's Arctic region is expected to have hydrocarbon reserves that will suffice for around 100 to 150 years for the country. However, explorations in the Arctic require huge investments due to its harsh climatic conditions and the challenges posed by compliance with environmental protection measures, which require advanced technologies. This scenario has prompted Russia to enter into an alliance with international oil companies to expedite the exploration process. Rosneft, a Russian national oil company, has entered into several funding and technological partnerships with international players to explore this region.
- The report highlights the hurdles faced by the Keystone XL project designed by TransCanada.
- The report further highlights the rationale for Canada to diversify its oil export destinations to Asia- Pacific.
- The Northern Gateway Pipeline provides scope for Canada to diversify its exports to Asian Markets.
Reasons to buy
- Develop a sound understanding of the need of Arctic exploration by Russia.
- To understand the reasons for Russia's need to explore in the offshore of Arctic.
- To understand the challenges faced by Russia in Arctic explaoration.
Arctic region, hydrocarbon reserves
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