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
Fury and Hecla Strait Fury and Hecla Strait Fury and Hecla Strait is a narrow (from ) channel of water located in the Qikiqtaaluk Region of Nunavut, Canada. Situated between Baffin Island to the north and the Melville Peninsula to the south, it connects Foxe Basin on the east with the Gulf of Boothia on the west. The first European to see it was William Edward Parry in 1822. It used to be always covered in ice, making the navigation difficult. The first transit (west to east) was by icebreaker in the middle of the 20th century. In the summer of 2016 the strait