Arctic oil and gas have been E&P targets for several decades; however, the petroleum potential of this region is far from being fully understood. Assessments of undiscovered petroleum in the Arctic indicate that it holds a significant amount of the world's undiscovered gas and oil (Gautier et al., 2009) and recent assessments also indicate the potential of shale resource plays for oil and gas, for example on the Alaska North Slope (Houseknecht, 2012). In this article, we present technology and workflows for efficient petroleum exploration risk and resource assessments for both conventional and unconventional resources in the Arctic, including gas hydrates. We also present a recent successful exploration campaign which resulted in the first technically proven shale oil play on the Alaska North Slope.

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