Details of the bidding battle to win the full contract for one of the most prized offshore projects up for grabs next year are starting to emerge.
Although Arctic exploration has slowed, thoughts are still on the region and oil and gas companies are still targeting arctic resources.
Companies are willing to drill deeper and farther from shore.
Panelists emphasize profit margins and reserve potential.
The country plans to offer shallow-water blocks in addition to deepwater and unconventional blocks.