The Arctic offers opportunities to help meet the world’s growing energy needs, but there are also specific challenges due to its unique nature. These challenges range from environmental, social and political, to operational, technological and commercial.
We have some investments in the offshore Arctic in Greenland and the Canadian Beaufort. We continue to assess opportunities, proceeding only when we believe we understand and can manage the associated risks and impacts, and where it makes commercial sense.
We hold a 19.75% share in Rosneft, Russia’s largest oil company and remain committed to our strategic investment, while complying with all relevant sanctions. BP does not currently have operations in the offshore Russian Arctic or directly partner with Rosneft on any of its offshore Arctic licences. BP has one onshore Arctic exploration joint venture in the Yenisey-Khatanga area.
Our operations in Alaska have government-approved land, air and water use permits and oil spill response plans that consider the sensitivity of the Arctic. We share our knowledge and experience in the Arctic with our partners to help deliver safe and responsible operations in this sensitive environment.
We have been studying the environment on Alaska’s North Slope since before start-up at Prudhoe Bay in 1977.
Since 2002, we have sponsored a polar bear study that provides a benchmark for understanding typical polar bear behaviour, while helping to assess the potential impacts from industry. We conduct aerial surveys with infrared cameras to detect denning polar bears so that we can mitigate and minimize any impacts.
We also support research on grizzly bears, which looks at population, habitat use and the potential impact of oil and gas activities. We have used data from the study to identify and avoid known grizzly bear den locations.
BP Magazine reports on two locations where supplying energy to the world means working in brutal conditions