Oil in Spitsbergen? Oil and gas have been looked for multiple times since the 1960, and nothing of economic value had been found so far. It did not seem a relevent question anymore, at least onshore.
Now it seems possible that there might be oil in relevant quantities where few would have expected it: naturally stored in the coal. The paleocene (60 million years ago) coal that is mined in Spitsbergen has an oil content that is higher than usual. Was the oil extracted from the coal and sold separately, then the value of one ton coal might see a significant rise: 150 oil-dollars against 70-80 dollars from coal sales, based on current world market prices. And even the residual coke might still be sold for energy production.
The oil potential of Spitsbergen’s coal reserves is roughly estimated at 700 million barrel: not a „gamechanger“ on the world market, but potentially very important for the local mining company, Store Norske. This does not include any reserves from coal older than the Paleocene. There is coal from the Devonian, Carboniferous, Triassic and Cretaceous in Spitsbergen, but these have not been investigated enough to say anything about their oil potential.
In any case, the value of the resources would rise significantly. This might also make coal seams interesting, that have so far been considered commercially unimportant.
If this ever becomes reality, is anything but certain: there is, so far, no process available that could be used commercially in Spitsbergen on an industrial scale. And any process would require substantial investments, something that would provide difficulties for Store Norske, which is currently facing a huge deficit. And finally, exploitation of so far untouched coal resources would be politically highly controversial, even in the oil-and-gas-country Norway.
Shipping coal from the port of Longyearbyen: will there be pipelines next to the cranes in the future?
This and other publishing products of the Spitsbergen publishing house in the Spitsbergen-Shop.
Norwegens arktischer Norden (1): Spitzbergen
Photobook: Norway's arctic islands. The text in this book is German. [shop url="https://shop.spitzbergen.de/en/polar-books/70-norwegens-arktischer-norden-1-aerial-arctic-9783937903262.html"] ← Back
Lofoten, Jan Mayen and Spitsbergen from the air - Photobook: Norway's arctic islands. The text in this book is German, but there is very little text, so I am sure that you will enjoy it regardless which languages you read (or not).
The companion book for the Svalbardhytter poster. The poster visualises the diversity of Spitsbergen‘s huts and their stories in a range of Arctic landscapes. The book tells the stories of the huts in three languages.
Comprehensive guidebook about Spitsbergen. Background (wildlife, plants, geology, history etc.), practical information including travelling seasons, how to travel, description of settlements, routes and regions.
Join an exciting journey with dog, skis and tent through the wintery wastes of East Greenland! We were five guys and a dog when we started in Ittoqqortoormiit, the northernmost one of two settlements on Greenland’s east coast.
12 postcards which come in a beautifully designed tray. Beautiful images from South Georgia across Antarctica from the Antarctic Peninsula to the Ross Sea and up to Macquarie Island and Campbell Island.