Baffin Bay Geological Survey has estimated that at least 13% of the world's undiscovered oil deposits and 30% of the world's undiscovered gas pockets are located in the Arctic, with the seas around Greenland potentially holding large amounts of natural gas and lesser amounts of crude oil and natural-gas liquids. Accordingly, the Greenland authorities have offered a large number of off-shore concessions for potential hydrocarbon (oil and gas) extraction. The largest concession-areas are located in seas west of Greenland; primarily in Baffin Bay and the Davis Strait, but with several smaller concessions in the Greenland Sea in the east also. Baffin Bay
Investigator Strait boundary with Gulf St Vincent is the line from Troubridge Point on Yorke Peninsula to Cape Jervis on Fleurieu Peninsula. Its boundary with Backstairs Passage is the line from Cape Jervis on Fleurieu Peninsula to Kangaroo Head (west of Penneshaw) on Kangaroo Island. Flinders noted that Backstairs Passage is a body of water separate to Investigator Strait. The boundary between the strait and Nepean Bay on the north-east coast of Kangaroo Island is a line between Point Marsden and Kangaroo Head. The Strait’s western boundary by definition is the line from Cape Spencer on Yorke Peninsula to Cape Borda on