Overview

Arctic Oil & Gas plans to Develop in a fair and Arctic manner the arctic commons hydrocarbons, free from petty and corrupt state politics.

The central portion of the Arctic Ocean covering an area of approximately 2,000,000 square kilometers is outside the United Nations agreed Exclusive Economic Zone, (EEZ) area controlled by the five surrounding nations and thus a Commons area in international waters belonging to all humanity.  It is within this ”Arctic Oceans Commons“ region that the Arctic Consortium proposes to develop a potentially large multinational oil and gas resource industry.

The Arctic Ocean Commons area surrounding and now covered by the rapidly retreating Arctic ice is widely believed to contain substantial petroleum resources and could offer great rewards to humanity which is entering a new era of global energy shortage and dangerous energy competition. All told, one quarter of the world’s undiscovered oil and gas resources lies in the Arctic, according to the United States Geological Survey.  It is vital that the Arctic oil and gas resources are carefully managed in this highly valuable, yet vulnerable, region. Unplanned and uncoordinated Arctic development could put the environment and people’s lives at unnecessary risk.

Very large risk capital amounts will be required to develop the Arctic Ocean Commons oil and gas in a way so as to protect the environment and currently individual governments, the United Nations or other governmental institutions, are currently unable or unwilling to provide.

Because of the extreme operating environment and delicate ecology it would be preferable for one overarching strong commercially Arctic globally represented organization to manage and develop the Arctic resources. This will eliminate the often illogical and sometimes dangerous compromises due to artificially prescribed national boundaries, lack of capital and expertise of governments and individual companies and-or narrow politically motivated restrictions.

Arctic Oil & Gas has a viable politically, environmentally and commercially sound solution for easing the global energy emergency by careful shared development of the Arctic Oil and Gas resources contained in the common Arctic Ocean area.  The Arctic Consortium has created a unique cooperative international development plan which benefits fairly all of the surrounded countries and effected parties, in effect making them Arctic Oil & Gas  Arctic Commons resources development partners. At the same time providing for a technically and environmentally viable development consortium structure of like-minded oil and gas corporations to deliver promptly much needed energy supplies to the world markets, thus reducing friction between countries and contributing to the greater peace of mankind.

"The Arctic Oil & Gas cooperative development approach is the best possible solution forming the basis for an effective and long-term exploration of the petroleum resources in this important resource-rich area."

Arctic Oil & Gas has an Arctic oil and gas development plan, which will ensure that a grouping of major private industry oil and gas companies in full consultation with governments will work together to ensure that much needed Arctic hydrocarbons will flow sooner to the benefit of all humanity.