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.