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I N N O V AT I O N S • V O L . V I I , N O. 2 • 2 0 1 5
Looking beyond the
current price of oil,
the industry prepares
for unique Arctic
pipeline challenges.
A Long-term
Proposition
A Challenging Environment
According to the U.S. Geological Survey, the Arctic may hold 90
billion barrels of undiscovered oil, more than 28 trillion cubic meters
of natural gas, and 44 billion barrels of natural gas liquids. All of which
makes developing untapped Arctic hydrocarbon resources an attractive
commercial opportunity.
At the same time, of course, the Arctic’s severe physical environment
presents immense and costly challenges for both energy exploration and
ecological preservation.
According to George Lim, industry veteran and offshore expert
for global pipeline services provider T.D. Williamson (TDW), it will
take new technologies to overcome the complexities that could limit
With the break-even point for arctic operations at about
twice the recent price of crude oil, now may not be the best time
for the industry to embark upon drilling in the steel-snapping, oil-
thickening cold.
But if Arctic drilling and production are to become a viable
and sustainable reality, planning for the future starts today. In fact,
the complexities of the Arctic environment require it.
ARCTIC ADVENTURE:
F U T U R E T H I N K I N G