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.
Henry Kater Peninsula Henry Kater Peninsula The Henry Kater Peninsula () is a peninsula on northern Baffin Island, in Nunavut, Canada. It protrudes in an eastern direction into Davis Strait. It's bounded to the north by Arctic Harbour. Further north lies Clyde Inlet. Home Bay borders the peninsula to the south. It is named after the English physicist, Henry Kater. The peninsula is long by - wide. Its highest point rises above sea level. At least between 34,000 and 10,000 BP, Henry Kater Peninsula was ice-covered. There are no permanent communities on Henry Kater Peninsula, though Wenzel noted some Inuit maintained fixed winter