Norway is looking to the Barents Sea to compensate for declining North Sea production.
After much prevarication, the vast Shtokman gas field in the Barents Sea will supposedly be developed soon.
The enormous Shtokman gas field in the Barents Sea could be an early test of international sentiment.
Five western oil companies are vying to help Gazprom exploit its massive Shtokman field in the Barents Sea.
Opening up big new fields on the northern Yamal peninsula and in the Barents Sea will be costly.
The three oil majors will bid to help develop Russian gas monopoly Gazprom's vast Barents Sea Shtokman gas field.
At least one strategic ballistic missile submarine will fire from the Barents Sea.
The submarine headed back to its base on the Kola Peninsula, by the Barents Sea, which took five hours.
Russian companies such as Gazprom are already developing fields in the Barents Sea.
Icelanders are also keen to co-operate with Russia, Canada, and Norway in the Barents Sea and in the Arctic region.
Sometimes there is no such link: Norway's southern Barents Sea has had little ice to worry about for a long time.
The company has been actively seeking new opportunities, but most of the current targets are in northern Russia or the Barents Sea.
FORBES: Putin's Dream Of Eurasian Union Could Control World's Energy
The only big offshore Arctic production site is the Snohvit gas field in the Norwegian Barents Sea, opened by Statoil in 2007.
About 10 years ago, scientists began mapping the floor of the Barents Sea, off the coast of Norway in the Arctic Circle.
Every year, each female king crab gives birth to around 10, 000 surviving offspring and there are now 20 million in the Barents Sea alone.
Norway, which awarded 26 licences for the Barents and Norwegian Sea in January, plans to issue more for the eastern Barents Sea early next year.
The Kremlin has made a big deal of its plans to explore in the icy reaches of the Kara Sea with ExxonMobil and the Barents Sea with Statoil.
Around 15, 000 years ago the Barents Sea ice sheet, which stretched from northern England to Siberia, disintegrated in perhaps less than 1, 000 years, probably because of warming seas.
The fate of that deal is now on hold, and Russia has since excluded Shell from the international consortium developing the giant Shtokman gas field in the Barents Sea.
In April, the 250 million barrel Skrugard oil discovery was made in the Barents Sea, and the 150-300 million barrel Peregrino South oil field was discovered offshore Brazil.
The remaining make-up of newly elected Prime Minister Jens Stoltenberg's government further hints at the strategic importance he places on the future of the Arctic region and the Barents Sea.
One of the first announcements made by Mr Stoltenberg's government was that it will push ahead with oil exploration in the Barents Sea, in spite of vocal opposition from environmentalists.
He said the Latham 47 had not been built to cope with the rough conditions which can be encountered in the Barents Sea and could have been overcome by waves.
Russian natural gas giant Gazprom announced yesterday that it had indefinitely shelved the Shtokman project in the Barents Sea because the costs of developing it would simply be too high.
Statoil, having found two additional Barents Sea gas fields in the past 12 months, expects to produce up to 1m barrels a day of oil equivalent from new Arctic wells by 2020.
As always happens when the former superpowers carry out naval exercises, the "other side" - the United States - did have submarines in the area of the Barents Sea where the exercise was taking place.
Already, most of the shipments through Murmansk's Barents Sea port to the north or Kandalaksha's White Sea port to the south is made up of metals and minerals, and the bulk is set to grow.
By 2010 it expects to send gas in liquefied state from reserves near the Barents Sea to ports in the U.S. And the company is looking eastward, too, with plans to build pipelines to China.
Russia's natural resources minister Jurij Trutnev, meanwhile, has been making optimistic noises in recent weeks about the likelihood of a resolution of a long-standing border dispute between the two nations over a 155, 000 square kilometres "grey area" in the Barents Sea.
The recent discoveries by Statoil in the Barents Sea have fueled new interest in exploration activity in the Arctic regions of Norway, leading to record levels of drilling in 2011 with 4 additional wells planned this year and 7 more in 2012.
FORBES: Arctic Chill As Norway And Transocean Try To Offset Production Declines
应用推荐