Russia eyes over million sq km of energy reserve in Arctic : Reports

Moscow, June 27 (UNI) Russian scientists have collected proofs justifying extension of the country's continental shelf, on the bottom of the Arctic Ocean, near the Lomonosov Mountain Ridge.

The collected information shows that the area of Russia's ocean shelf exceeds the previous estimate of energy-rich territory by 1.2 million sq kilometres, Kommersant the leading Russian business daily reported today.

Under the international agreements, Russia enjoys the exclusive right of conducting economic activity in the entire territory of the shelf, including that outside the standard zone of 200 nautical miles.

The paper quoting scientists said that Lomonosov Ridge area in the Arctic contains oil and gas reserves of up to 10 billion tonnes.

The work to gather comprehensive scientific evidences proving that the shelf of the Arctic Ocean simply continues Siberian continental platform is expected to be completed by 2009, it said.

It was Rossia Atomic Icebreaker with Mi-8MTV helicopters on board that explored the Ocean's bottom during an expedition of 45 days.

The vessel returned to the Murmansk port, last Monday.

The Law of the Sea Convention allows states an economic zone of 200 nautical miles, which can sometimes be expanded. To extend this zone, a state has to prove that the structure of the continental shelf is similar to the geological structure within its territory.

At the moment, nobody's shelf extends up to the North Pole, so there is an international area around the Pole administered by the International Seabed Authority.

UNI