The Arctic region and its polar zone may contain giant oil and natural gas reserves, believe experts participating in the International Geography Festival in France.
"Arctic oil reserves may reach 60 billion barrels," Scientific Director of the energy corporation Total Jean-Francois Minster. He added that some natural deposits may be located in the international zone, outside the sea economic zones of nearest states.
Experts also noted that the legal status of the Arctic region is not determined by international treaties, which allows seven countries of the zone and even separate indigenous peoples to advance their territorial claims.
In the view of the former French industry minister who also takes part in the forum, "30 per cent of the world's natural gas and 15 per cent of oil may be deposited in the Arctic."
He also drew attention to the fact that the Arctic remains relatively unexplored - at present there are depth maps of only one-fourth of its sea bottom.
