I believe Antarctica is reserved for the likes of De Rosa and Yallop. Any oil reserves would of course be of no interest to those devoted to spiritual matters.
There’s no reason there can’t be a Bishop of Antarctica, and that he can’t be raised to a cardinal. The Papacy kept appointing bishops to Greenland long after contact was lost and the colony died out. I think the last one was in the 1500s, about a century after any of them actually went to Greenland. A stunt like this would raise eyebrows today, but there’s nothing that says it can’t happen.