The Chukchi Peninsula is located in the northeastern part of Russia, extending into the Arctic Ocean. It is bordered by the Chukchi Sea to the north and the Bering Sea to the south. The peninsula is known for its rugged terrain, including mountains and tundra, and is home to various wildlife species, such as polar bears and migratory birds. The region is inhabited by the Chukchi people, an indigenous group with a rich cultural heritage. The economy of the Chukchi Peninsula is primarily based on reindeer herding, fishing, and hunting. The area is also significant for its natural resources, including oil and gas reserves.