Arctic Offshore Fields Development: New Challenges & Opportunities at the Current Post-Pandemic Situation

Abstract

The situation associated with the spread of the coronavirus COVID-19 in the world has had a significant impact on all sectors of the global economy. The development of the Arctic shelf, as the most capital-intensive direction of the oil and gas complex, was also affected by macroeconomic circumstances that objectively arose during the post-pandemic. At the same time, hydrocarbon production on the shelf of the Arctic implies intensive development of infrastructure, transport, loading of related industries, which allow generating significant multiplicative and complex-forming effects. The development of offshore projects in the Arctic can become a driver, a locomotive of economic development not only in coastal regions, but also in the state as a whole.

Migration Attractiveness as a Factor in the Development of the Russian Arctic Mineral Resource Potential

“…The availability of The year 2020 brought significant challenges [30]: the rapid spread of the coronavirus (COVID-19) pandemic forced governments all around the world to establish lockdown measures, which significantly affected economic activity, employment, and people's livelihoods [31]. The economic crisis caused by the coronavirus pandemic has had a negative impact on many industries; however, some of them have proved to be quite resilient [32,33]. The world fuel and energy market experienced the greatest impact of COVID-19: the decline in economic activity has dramatically affected global energy demand, which, according to the Global Energy Perspective 2021 by McKinsey and Company, fell by 7% [30].…”

Energy Resources Exploitation in the Russian Arctic: Challenges and Prospects for the Sustainable Development of the Ecosystem

“…The year 2020 has become a great challenge for countries around the world [1]; due to the rapid spread of the coronavirus pandemic (COVID- 19), authorities in most countries were forced to take tough isolation measures, which led to a decrease in production activity and living standards of people, a reduction in the service sector, and an increase in unemployment [2]. The systemic crisis caused by the coronavirus pandemic negatively affected the economy, as well as many industries, including the energy sector [3]; a sharp decline in business activity led to a reduction in air traffic, cargo transportation, and affected the work of industrial enterprises, which, according to BP Statistical Review of World Energy 2021, caused a decrease in global energy demand by 4.3% [4]. The oil and gas sector experienced the greatest negative impact, where the demand for oil fell by a record 9.6% and natural gas consumption decreased by 2.3%, while the demand for alternative energy continued to grow [4,5].…”