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
Baffin Island at a similar latitude. Sea ice surrounds the island for most of the year, and only disappears completely from the north coast for short unpredictable periods from mid- to late June until the end of September. Most of Baffin Island lies above the Arctic Circle and all the communities from Pangnirtung northwards have polar night in winter and the midnight sun in summer. The eastern community of Clyde River has twilight instead of night from April 26 until May 13, continuous sunlight for 2½ months from May 14 to July 28, then twilight instead of night from July 29 until