Cap of the North northern Fennoscandia. Cap of the North The Cap of the North ("Nordkalotten" in Norwegian and Swedish, or "Pohjoiskalotti" in Finnish) consists of the counties Finnmark, Nordland and Troms in Norway, Norrbotten County in Sweden, Lapland/Lappi Region in Finland and Murmansk Oblast in Russia. This area is roughly equal to the parts of Fennoscandia (including the Kola Peninsula in Russia) lying north of the Arctic Circle. The region has a subarctic climate and is home to the majority of the Sámi people. Historian Per Guttorm Kvenanger has criticized the term "Nordkalotten" for displacing the overlapping term Sápmi and hiding the "Sami
Petroleum exploration in the Arctic Bay. However, only half the basins – such as the Beaufort Sea and the West Barents Sea – have been explored. A 2008 United States Geological Survey estimates that areas north of the Arctic Circle have 90 billion barrels of undiscovered, technically recoverable oil (and 44 billion barrels of natural gas liquids ) in 25 geologically defined areas thought to have potential for petroleum. This represents 13% of the undiscovered oil in the world. Of the estimated totals, more than half of the undiscovered oil resources are estimated to occur in just three geologic provinces – Arctic Alaska, the Amerasian