The Arctic could be considered one of the world's last, great frontiers. Covering over 8.2 million square miles, with 62% of that area offshore, it is seen as a resource rich storehouse of oil, gas, heavy oil and methane hydrates waiting to be explored. Estimates by the U.S. Geological Survey suggest that 13% of the world's undiscovered oil and 30% of the undiscovered gas lie above the Arctic Circle.
The challenges to operating successfully in the Arctic are technically, physically, socially and environmentally more demanding than in any other environment. The extreme weather conditions and the remoteness of the work sites intensify those challenges. A project in this region naturally demands more planning, review, and contingencies than a job in a more benign climate, closer to major supporting infrastructure.
Halliburton has over 50 years Arctic experience operating in various geographical locations and conditions. We bring that experience, along with our reliable equipment, resourceful people and innovative technology to working efficiently in the Arctic. Project after project, we have proven our ability to understand the challenges of new resources by partnering with operators to provide efficient solutions for successful development.
The Arctic may present some of the harshest working conditions, but with the potential to enhance the world's energy reserves, it's worth the effort. Halliburton's approach to the Arctic is based on creative, long-term thinking and the ability to work well with local communities, industry partners, stakeholder organizations and academia to generate the most effective solutions for developing Arctic resources safely and responsibly.