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
Pitt Strait (Indonesia) Pitt Strait (Indonesia) Pitt Strait (Indonesia) (a.k.a. Pitt's Strait, Sagewin Strait), falls within the waters of the Indonesian province of West Papua. The strait separates the Raja Ampat islands of Batanta and Salawati and links the Ceram Sea to the Pacific Ocean. To its west lies Dampier Strait, which separates Batanta island from Waigeo island. The Sagewin Strait name refers to Sagewin Island, which lies at the south east side of Pitt Strait, close to Salawati. In 1759 Captain William Wilson sailing in the East Indiaman "Pitt" navigated these waters and named the channel between Batanta and Salawati Pitt Strait,