Ernst & Young provides Arctic assessment

02/18/2013
Greg Clock OGJ Correspondent The quest for Arctic oil and gas resources "is not for the faint of heart, nor for those with less-than-deep pockets," Ernst & Young said in a special report, adding operators confront a harsh climate, limited infrastructure, exceptionally long lead times, and complex logistics for spill containment and recovery. The Arctic contains portions of Canada, Denmark, Greenland, Finland, Iceland, Norway, Russia, Sweden, and the US. Costs must be considered in every country, but perhaps less so in Russia, estimated to hold more than half of total Arctic resources, E&Y said in its report entitled "Arctic Oil and Gas." Access to existing infr...
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