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Energy issues have always been on the global economics and geopolitics agenda, even though energy sources have been changing over time. In recent years, the awareness of Arctic offshore oil and natural gas development has escalated, yielding economic opportunities and incurring risks. The offshore Arctic is one of ‘edges’ of the global petroleum industry. The importance of these oil and natural gas resources extends beyond regional and national boarders and local economies, as these activities have become a key geopolitical, economic, and social concern. In an attempt to shed light on this growing issue, this thesis outlines the Arctic is a link in the global energy system and shows how it plays a special role. The aim of this research is to provide deeper insight into offshore hydrocarbon development activities in the Arctic. Historical approach is applied as a main conceptual framework to provide a critical link of past to the present in order to explore the origin and intensity of these activities in the Arctic. This licentiate thesis presents the results of an ongoing doctoral research project. The study provides several insights into Arctic offshore oil and natural gas resources development in the global context via an analysis of the relevant investments and technology from a country-by-country and historical perspective in the maximum period time frame between 1920 and 2025. The two papers included in this thesis explore the impact of investment and technology. This research project illustrates the importance of several factors influencing the Arctic offshore oil and natural gas production and highlights the most promising areas for cooperation at the industrial and global level. The implications of the study results can be useful for identifying and emphasizing the factors that influence offshore Arctic hydrocarbon resource development and investment trends, as well as making assumptions regarding future development. Topics for further research are discussed and refined relating to the ongoing study and the conceptual framework presented. / <p>QC 20150407</p>