Oil and gas giant Shell is anticipated to start drilling for oil in the Arctic this month.
Shell has committed $7bn to the project and thirty ships have been sent to the region to support two initial exploratory wells.
The initial two wells will be in relatively shallow water, with a depth of 40-50m and will be drilled using conventional techniques.
Experts believe that more than 20% of the world’s undiscovered oil and gas resources can be found in the Arctic.
The growing demand for energy has made drilling for reserves in the Arctic a potentially viable option despite the environmental risks.