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 yarn, Eurasian rats, tally sticks, a carved wooden Dorset culture face mask depicting Caucasian features, and possible architectural remains, which indicated that European traders and possibly settlers had been on Baffin Island not later than AD 1000. What the source of this Old World contact may have been is unclear; the report states: "Dating of some yarn and other artifacts, presumed to be left by Vikings on Baffin Island, have produced an age that predates the Vikings by several hundred years. So [...] you have to consider the possibility that as remote as it may seem, these finds may represent