As a result of the global warming, the situation in the Barents Sea leads to several important consequences. Firstly, oil and gas drilling becomes much easier than before. Therefore, it may raise the level of discussions on disputed shelf zones where the deposits are located, especially near to Norway-Russia sea border. Secondly, oil and gas excavation leads to potential threats to fishing by changing natural habitats, which in turn can create serious damage to the economies. We construct a model, which helps to highlight potential disputed territories and analyze preferences of the countries interested in fossil fuels and fish resources. We also compare different scenarios of resource allocation with allocation by current agreement.