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
Hudson Strait expedition led by Robert Bylot and William Baffin in 1616. Hudson Strait links the northern seaports of Manitoba and Ontario with the Atlantic Ocean. The Strait could serve as an eastern entrance to the Northwest Passage if it were not for ice in the Fury and Hecla Strait south of western Baffin Island. The International Hydrographic Organization defines the limits of the Hudson Strait as follows: Hudson Strait Hudson Strait links the Atlantic Ocean and Labrador Sea to Hudson Bay in Canada. This strait lies between Baffin Island and Nunavik, with its eastern entrance marked by Cape Chidley in Quebec