OVERCOMING THE ARCTIC CHALLENGE

Many decades ago when I was still a starry-eyed dreamer I also thought that just having an oil reserve on its national territory is like having the money in the bank. How wrong I was. Little did I know about the different drilling costs depending on depth, reserve properties, geolocation, and what else. Little did I concern myself with the figures of refining and transporting crude. Just because it’s there does not mean you make money lifting it.

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