Russia’s Discovery of Vast Oil and Gas Reserves Goes Untapped

Russia Discovers Huge Oil and Gas Reserves in Antarctica

Russia has announced the discovery of massive oil and gas deposits in Antarctica.
These reserves are estimated to contain around 511 billion barrels of oil, which is equivalent to 10 times the production of the entire North Sea over the last 50 years.

The enormous reserve was found by ships from Rosgeo, the largest geological exploration company in Russia.
The discovery was revealed last week in evidence presented to the Commons Environmental Audit Committee.
The company reported conducting a geological survey of the Antarctic subsoil in areas claimed by the United Kingdom, uncovering vast oil and gas fields.
This incredible discovery could lead to drilling scenarios to extract them, but this is currently prohibited by the Antarctic Treaty.

What is the Antarctic Treaty?

Antarctica is a region of the planet that is not subject to the sovereignty of any state.
In order to prevent conflicts over control of that area of the Earth, 12 countries signed a treaty in 1959, establishing guiding principles on activities to be carried out on the continent.
Italy also signed the treaty on March 18, 1981.
The goal of the agreement is to promote the peaceful use of the continent, in the interest of humanity, while preserving its flora, fauna, and natural environment.

The key points of the Treaty include the suspension of territorial claims, the prohibition of any military activities, the ban on nuclear testing and disposal of nuclear waste, the freedom of scientific research, and cooperation and exchange of information and personnel in scientific activities.

Now, in light of these treaties, Russia and other nations cannot exert influence in that area except for scientific reasons.
Despite the vast oil and gas reserves underground, they cannot be exploited.
Russia has admitted to conducting research in the area but claims to have always done so in compliance with the Antarctic Treaty.

Geopolitical Concerns and Future Scenarios

Given the current geopolitical context, particularly with the war in Ukraine, concerns have been raised.
Geopolitics professor at Royal Holloway University, Klaus Dodds, has warned that we are likely facing the most challenging period since the 1980s concerning the Antarctic context.

There are fears that a deterioration in international relations with Russia could impact the management of Antarctica, leading to a strategic competition for control of the area.
Dodds believes that Russia’s supposedly scientific research may actually be a precursor to future resource extraction activities.
Essentially, under the guise of scientific research, Russia has initiated unauthorized mining exploration activities with the aim of future drilling.

Many fear that behind this research lies a broader project for exploiting the region and initiating a struggle for control of Antarctica.
Despite being considered economically and resource-wise insignificant, the region actually harbors vast underground oil and gas reserves that could yield millions of dollars.

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What Could Happen?