Arctic energy resources have attracted global attention, especially over the last ten years. The chapter revisits the Arctic energy potential and the legal framework for development of Arctic offshore resources. Can jurisdictional disputes become an obstacle to Arctic energy development, and is it conceivable that petroleum activities in contested areas or areas outside national jurisdiction could lead to inter-state conflicts? How important are Arctic resources in global energy supplies, and where are the largest concentrations of hydrocarbons? What is the outlook for development?