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Over the past 75 years, hydrocarbon exploration of Arctic regions north of the Arctic Circle (66°N) has yielded some 450 discoveries which collectively account for 2.5% of global conventional liquids discovered to date and 15.5% of the world's discovered conventional natural gas. Accumulations occur in rocks ranging from Cambrian to Pleistocene in age but 94% of all Arctic hydrocarbon resources occur in clastic reservoirs of Mesozoic age. Although discoveries have been reported from 15 different basins onshore and offshore Alaska, Canada, Norway and Russia, 75% of all discovered resources are located in the portion of Russia's Western Siberia Basin...

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