Arctic resources race The Arctic consists of multiple sub-regions: Russian Arctic, Canadian Arctic, Greenland (Kalaallit Nunaat), Northern Alaska (USA), Svalbard(Norway), Iceland, Fennoscandia. In addition to these sub-regions, the Arctic Ocean and its multiple seas—Greenland Sea, Barents Sea, Kara Sea, Laptev Sea, East Siberian Sea, Chuckchi Sea, Beaufort Sea,etc.-- make the arctic a vast region with a variety of natural resources. The U.S. Geological Survey estimates that undiscovered oil and gas reserves in the Arctic amount to 22% of the world's total, about 412 billion barrels of oil. A Brookings Institution summary reported: The first offshore oil platform in the Arctic was Prirazlomnaya in
Beaufort Sea Pipeline, but is limiting regular commercial production at Mackenzie River deposits. For example, the Amauligak Project was started soon after the discovery of the field. In September 1985, the tanker "Gulf Beaufort" has transported of crude oil to Japan, which was the first shipment of oil from the Arctic deposits. However, the project has stalled after that. In July 2017, the U.S. Bureau of Ocean Energy Management approved a plan to allow Eni, an Italian multinational oil and gas company, to drill four oil exploration wells on Spy Island, one of four artificial islands in the Beaufort Sea. Stan Rogers