Four geologic provinces of the Barents Sea shelf were assessed for undiscovered crude oil, natural gas, and natural gas liquid or condensate resources as part of the U.S. Geological Survey's Circum-Arctic Oil and Gas Resource Appraisal. Using a geology-based methodology, the mean undiscovered, conventional, technically recoverable petroleum resources in the Barents Sea Shelf are estimated to be more than 76 billion barrels of oil equivalent, which includes approximately 11 billion barrels of crude oil, 380 trillion cubic feet of natural gas, and 2 billion barrels of natural gas liquids.
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USGS Numbered Series
Assessment of Undiscovered Petroleum Resources of the Barents Sea Shelf