THE ARCTIC: The World’s New Economic Frontier and Opportunity for Development, Shipping and Expansion by Ernst Frankel Professor of Mechanichal and Ocean Engineering, MIT First Frank Davidson Lecture Paris, France September 14th, 2012

RUSSIA NORWAY US ALASKA CANADA GREENLAND

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Exploration and production in the Arctic are subject to a broad range of challenges. Therefore, tomorrow’s footprint oil and gas field developments are required for the pristine environment of Arctic region (Source : IEA)  Remote location  Changing ecology  Icebergs  Sea ice conditions  Prolonged darkness  Mobile pack ice  Severe storms  Permafrost  Earthquakes  Sensitive environment  Deep water

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Greenland has 5 potential areas for offshore hydrocarbon exploitation: Southwest Greenland Basin, East Central Greenland Basin, Kronprins Christian Basin, Baffin Bay and North Greenland Basin. Source: IHS CERA Greenland North Greenland basin Baffin Bay Southwest Greenland Basin Greenland East Central Kronprins Christian Basin

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Thank You