Russia Discovered Huge Oil Reserves in Antarctica
Satyesh Bhandari
Russia's Rosgeo uncovered oil and gas reserves in British Antarctic territory, estimated at around?511 billion barrels.
The reserves uncovered are said to contain around 511 billion barrels worth of oil, equating to around 10 times the North Sea's output over the last 50 years.
In a statement following the ship's expedition, the Russian geological agency Rosgeo said?surveys had identified approximately 70bn tons of oil and gas buried beneath the Antarctic Shelf. That is equivalent to more than 500 billion barrels of crude oil, enough to meet global demand for 14 years. The discovery was made by Russian research ships in the Weddell Sea, Antarctica. oil and gas research experiments were conducted on ships owned by the Kremlin’s Rosgeo, the largest geological exploration company in Russia. In particular, Rosgeo’s?Alexander Karpinsky?vessel is said to have conducted a number of surveys in the region. Details of the discovery are yet to be disclosed.
The U.S. Geological Survey has been actively pursuing various investigations in Antarctica since 194 7, but not reported any possible presence of oil and gas.
Russia's Rosgeo uncovered oil and gas reserves in British Antarctic territory, estimated at around?511 billion barrels.
The reserves uncovered are said to contain around 511 billion barrels worth of oil, equating to around 10 times the North Sea's output over the last 50 years.
Minerals have been found there in great variety but only as occurrences. Manganese nodules, water (as ice), geothermal energy, coal, petroleum, and natural gas are potential resources that could perhaps be exploited in the future.
Oil and gas reserves are presumed to be present in the Antarctic shelf areas. The thick sediment layers necessary for the formation of these two resources could be present on the shelves of the Ross and Weddell Seas as well as in the Amundsen and Bellingshausen Seas.
There has never been any commercial mining in Antarctica thanks to the Antarctic Treaty which has completely banned mining under the Environmental Protocol. When the original treaty was signed in 1959, mining was not incorporated let alone formally discussed.
Projections show that?the area of land and sea that falls within the Arctic Circle is also home to an estimated 90 billion barrels of oil?and there's even more natural gas. For over half a century, petroleum exploration in the Arctic has been accomplished, with several major geological basins having been explored.
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?If Russia goes ahead with the drilling, it could?make the BRICS alliance stronger?in oil output and production.?Russia’s?drilling for oil in Antarctica could create international discord?leading?to turmoil in the geopolitical affairs.?
The BRICS alliance stands to benefit from the?large?oil discovery by Russia in the Antarctic region. BRICS already controls 42% of the global supply?and?drilling in Antarctica pushes the numbers higher. While the US will be the top oil-producing country in the world in 2024, BRICS is looking to challenge its dominance.
Seven countries, including Argentina, Australia, Chile, France, New Zealand, Norway, and the U.K., have territorial claims over Antarctica. However, the United States and most other countries do not recognize those claims.
The development could put BRICS member Russia on top of the map?making?it among the top producers of oil in the world. However, the massive oil discovery comes with a price?as?Russia might find it difficult to drill in the region.?Antarctica?is protected?by the 1959 Antarctic Treaty, which prohibits all?oil developments in the?region.
Concerns are now being raised that Russia is attempting to assert its influence in the area through means other than scientific research.
Antarctica is governed by?"The Antarctic Treaty", first signed on December 1, 1959, which states that no single country owns the territory and designates the region as a continent devoted to peace and science, meaning all oil developments in the area are prohibited.
It is now claimed that Russia may be prospecting parts of Antarctica for oil and gas and carrying out 3D seismic survey that could be construed to be prospecting rather than scientific research.
Russia however, repeatedly assured that the activities being carried out are for scientific purposes.
Seven countries, including Argentina, Australia, Chile, France, New Zealand, Norway, and the U.K., have territorial claims over Antarctica. However, the United States and most other countries do not recognize those claims.
India also has three research stations in Antarctica:?Bharati, Dakshin Gangotri, and Maitri.?Bharati and Maitri are active stations, while Dakshin Gangotri is used as a supply base.
Geoscience Advisor at KC Geoscience Consulting
10 个月Likely the Russian government is using this to make a claim for a portion of the Antarctic just as other countries have done. One ploy might be to make Antarctic claims that they will give up exchange for someone else relinquishing their claim in the Arctic where the Russians want to be dominant.
E&P Freelancer
10 个月To announce discovery on the basis of only seismic survey is something I never knew. Still there is no technique to confirm presence of oil and gas except drilling. It might have been announced for strategic and political reasons.
Geoscience Advisor at KC Geoscience Consulting
10 个月Rosgeo has found no oil yet. All they did was acquire some seismic data that is interpreted to be of potential interest. Many wells must be drilled to determine actual prospectively.
Adjunct Faculty at Calcutta University Geology department
10 个月Not only oil/gas there are coal and other strategic mineral resources in this Antarctica plate which was part of Gondwanaland, long back in 1982/83 O.N.G.C. took part in acquiring data and establishment of a scientific research station, recently a post office is also opened up.But the global treaty is there not to exploit those resources at the cost of environment of polar region which may cause a devastation around the globe.
Upstream Energy Professional (P.Eng)
10 个月Informative and insightful...!!