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.
Dorset Island Dorset Island Dorset Island or Cape Dorset Island is one of the Canadian Arctic islands located in Hudson Strait, Nunavut, Canada. It lies off the Foxe Peninsula area of southwestern Baffin Island in the Qikiqtaaluk Region. It is serviced by an airport and a harbour. The island was named after the statesman Edward Sackville, 4th Earl of Dorset. The island is long and wide, with its highest elevation above sea level. On the southern end of Dorset Island, at an elevation of above sea level, the mountain, Cape Dorset, projects into the Hudson Strait. It is part of the Kingnait