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
Nordic Seas body of water does not make up the deep waters of the Nordic Sea. The circulation of the Nordic Seas is cyclonic. The circulation pattern is seen in Figure 2. The Nordic Seas exchange water with the North Atlantic in the upper ocean. Warm water from the North Atlantic enters the Nordic Seas from the east, specifically in the Norwegian Atlantic Current (part of the North Atlantic Current). The western boundary of the Nordic Seas is the southward-flowing East Greenland Current. This current enters through the Fram Straight from the Arctic. This current is considered one of the main ways