• Journal of the Korean Institute of Gas
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• v.21 no.2
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• pp.10-19
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• 2017

This paper presents the status and characteristics of oil and gas industry and the guideline for investment of producing asset or petroleum and natural gas rights(PNG rights) in Canada. The Western Canadian Sedimentary Basin(WSCB) consists of around 11 main formations, and petroleum has actively been produced at the Montney, Cardium, Viking and Bakken formation. However, the drilling activity declined to 1,917 in Q1, 2016 from 5,724 in Q1, 2014 and 3,365 in Q1, 2015 which dropped 67% and 43% respectively because of the low oil price since 2014. Also, the price of oil and gas asset decreased 34~47% on reserves and production base, and the PNG rights for development decreased 81~97% based on total bidding price, bidding area and unit bidding price. Therefore, it is very favorable environment for Korean companies entering into the Canadian petroleum business especially in PNG rights acquisition which needs smaller investment compare to asset acquisition and shows sharpest value depreciation.

• Ocean and Polar Research
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• v.23 no.1
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• pp.51-62
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• 2001

The Arctic consists of numerous sedimentary basins containing voluminous natural resources and two of the world's major oil and gas producing areas. The western Siberia Basin in the Arctic region has the largest petroliferous province with an area of 800 ${\times}$ 1,200 km and produces more than 60% of total Russian oil production. The North Slope of Alaska produces about 20% of the U.S. output, i.e., 11% of the total U.S. consumption. Being small compared to those regions, the Canadian Northwest Territories and the Pechora Basin in Russia produce only fair amount of oil and natural gas. There are also many promising areas in the northern continental shelf of Russia. In addition to Russia, Svalbard and Greenland have been investigated for oil and gas. Gas hydrates are widespread in both permafrost regions and arctic continental shelf areas. The reserves of gas hydrates in the Arctic Ocean are about 20${\sim}$32% of total estimated amounts of gas hydrates in the world ocean. Mineral mining is well developed, especially in Russia. The major centers are located around the Kuznetsk Basin and Noril'sk. They are major suppliers of gold, tin, nickel, copper, platinum, cobalt, iron ore, coal as well as apatite. There are also some minings of lead-zinc in Alaska and Arctic Canada.