Published on April 12, 2015
Studies have suggested that the Arctic contains over 30% of the world’s untapped natural gas reserves, and approximately 13% of its undiscovered oil reserves. The Beaufort shelf in the Canadian Arctic has been of interest for Oil and Gas development for many decades and reached a peak in the Mid 1980's when over 50 drilling islands were built to explore potential reserves by various international oil companies, with 92 wells recorded in the Canadian Beaufort Sea area. The Amauligak field was discovered in the Canadian Beaufort in 1984, and is still the largest oil and gas discovery in the Mackenzie Delta or Beaufort Sea areas. Amauligak lies approximately 75 kilometres northwest of Tuktoyaktuk in 30 metres water depth in the Beaufort Sea. The field is thought to contain 235 million barrels of oil and 1.3 trillion cubic feet of natural gas.