The Russian portion of the West Arctic Shelf (including the Barents Sea, Pechora Bay and Kara Sea) contains over 75 % (8.2 billion tons of reference fuel) of the proved hydrocarbon reserves of the whole Russian offshore. The Norwegian continental shelf also bears significant oil and gas reserves distributed among three big water areas: continental shelves of the North, Norwegian and Barents Seas (35 %, 36 % and 29 % respectively).

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