Russia has discovered the world’s largest oil reserve in Antarctica.
The discovery was made following a series of studies conducted by Rosgeo, a Russian agency tasked with finding mineral reserves.
According to the British newspaper The Telegraph, Russia has reportedly discovered the largest oil reserves in history in British waters off Antarctica, despite hydrocarbon exploitation in the region being strictly prohibited, except for specifically authorized scientific activities.
The information, published three days ago, reports that Russian research vessels reported to Moscow the discovery of reserves totaling 511.000 billion barrels of oil, equivalent to 10 times the total production of the North Sea over 50 years or 30 times the Vaca Muerta formation, considering that the Neuquén formation holds reserves of around 16.000 billion barrels. This information was presented with compelling evidence last week to the Environmental Audit Committee of the House of Commons (EAC) in the United Kingdom.
The discovery was made following a series of studies conducted by Rosgeo, a Russian agency tasked with finding mineral reserves for commercial exploitation around the globe.
Established in 2011, Rosgeo brings together 63 companies in the sector that have discovered more than 1,000 significant deposits of gas, gold, and other resources, dozens of which are in countries across Asia, Europe, Africa, and Latin America.
Antarctica is protected by the Antarctic Treaty of 1959, which prohibits all mineral or oil developments. With such news, these issues are likely to reach a critical point and spark debate at the end of May during the annual meeting of Antarctic Treaty signatories in India, where Russia will likely be questioned about its alleged plans to extract fossil fuels.
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