Large-scale oil production in the Arctic can start only in 15 years says Lundin Petroleum
Edited by Rhod Mackenzie / 2014-02-25 06:55:38
Large-scale oil production in the Arctic is likely to start only in 15 years because of difficulties in the field of technology and logistics, Lundin Petroleum’s CEO Ya.Lundin stated.
“I don’t think that the oil production in the Arctic will start in the near future, it’s likely to start not in this decade and even not in the next one. There are great commercial difficulties,” – he said.
According to specialists, up to 30% of world unexplored reserves of gas and 13% of oil are in the Arctic.