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
Balikpapan Bay Balikpapan Bay Balikpapan Bay (Indonesian : "Teluk Balikpapan"), is a bay in Indonesia, near Borneo island close to the city of Balikpapan, East Kalimantan, Indonesia. The Indonesian company Pertamina has its largest oil refinery on the eastern side of the bay. Balikpapan Bay is located on the western side of Makassar Strait, in the south-west of the Pacific Ocean. The bay is bordering several areas. Balikpapan bay is the mouth of several rivers such as Wain River before merging into Makassar strait. Several public ports were located in Balikpapan Bay, such as: Private ports were also located in this area,