Oil exploration of the Arctic region is slowing down

In 2014 maritime, energy and mining companies looked to the Arctic as a new region to exploit natural resources, spending billions in the process.

But with plummeting oil prices and growing tensions with Russia, plans to explore the region may need to be put on hold.

A summit in Oslo will bring together political leaders with corporations and interest groups to debate whether the Arctic economic bubble is about to burst.

Nigel Cassidy reports.