Drilling in the Canadian Arctic turned out to be challenging and expensive, particularly in the offshore where drilling required innovative technology. Short operating seasons complicated logistics for companies who had to contend with the additional risk of variable ice conditions. .
Exploration for petroleum in the Arctic is expensive and challenging both technically and logistically. In the offshore, sea ice can be a major factor. There have been many discoveries of. .
There are 19 geological making up the region. Some of these basins have experienced and , most notably the where oil was first produced in 1968 from . However, only half the basins – such as the .
In June 2007, a group of returned from a six-week voyage on a ,. .
on 's is the largest oil field in , The field was discovered on March 12, 1968, by Atlantic Richfield Company (ARCO). .
Drilling in the peaked during the 1970s and 1980s, led by such companies as in the Sverdrup Basin of. .
In the years post 2000, sedimentary basins offshore were believed by some geologists to have high potential for large oil. .
and (then Statoil) made the Arctic exploration deal in May 2012. It is the third deal Rosneft has signed in the past month, after.
[pdf] Drilling in the peaked during the 1970s and 1980s, led by such companies as in the Sverdrup Basin of the Arctic Islands, and by and in the Beaufort Sea-Mackenzie Delta Basin. Drilling continued at declining rates until the early 2000s. In all, some 300,000 km of seismic and 1500 wells were drilled across this vast area. Approximately 1.9 billion barrels (300×10 m ) of oil and 32.4 trillion cubic feet (9.2×10 m ) .
[pdf] The GSF Arctic III drilling rig is owned by GlobalSantaFe which can be contacted for jobs and careers on the GSF Arctic III. The Semisub is a Semisub type of rig and is designed as a Friede & Goldman L-907 Enhanced Pacesetter and built by Rauma Repola Oy at the Rauma Repola Finland shipyard.
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