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
Henry Kater Peninsula Henry Kater Peninsula The Henry Kater Peninsula () is a peninsula on northern Baffin Island, in Nunavut, Canada. It protrudes in an eastern direction into Davis Strait. It's bounded to the north by Arctic Harbour. Further north lies Clyde Inlet. Home Bay borders the peninsula to the south. It is named after the English physicist, Henry Kater. The peninsula is long by - wide. Its highest point rises above sea level. At least between 34,000 and 10,000 BP, Henry Kater Peninsula was ice-covered. There are no permanent communities on Henry Kater Peninsula, though Wenzel noted some Inuit maintained fixed winter