Davis Strait 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. This has led Greenland's minister and provincial council to offer a large number of off-shore concessions to potential hydrocarbon (oil and gas) extraction. The largest concessions areas are located in seas west of Greenland, primarily the Davis Strait and Baffin Bay, but with several smaller concessions in the Greenland Sea in the east also.
Dolphin and Union Strait Dolphin and Union Strait Dolphin and Union Strait lies in both the Northwest Territories and Nunavut, Canada, between the mainland and Victoria Island. It links Amundsen Gulf, lying to the northwest, with Coronation Gulf, lying to the southeast. The southeastern end of the strait is marked by Austin Bay. It gets its name from the two boats used by John Richardson (naturalist) who first explored it in 1826. The Inuit who use this area have been variously known as the Copper Inuit, the Copper Eskimos, or the "People at the end of the world," because few other aboriginal groups had