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.
Adams Island (Nunavut) width. Another, much smaller, Adams Island is located off the northeastern tip of Baffin Island. Adams Island (Nunavut) Adams Island (Inuit: "Tuujjuk") is an uninhabited island in the Qikiqtaaluk Region of Nunavut, Canada. The island is located in Baffin Bay off the northeastern coast of Baffin Island in the Canadian Arctic Archipelago. Nearby are Dexterity Island (northeast), Dexterity Fiord and Baffin Island (east), Tromso Fiord (south), Paterson Inlet (west), Bergesen Island (northwest), and Isbjorn Strait (north). Adams Island is irregularly shaped, its eastern and western sides split by the Ratcliffe Arm. Coastlines slope sharply while the interior mountains are over