Determinants of oil and gas investments on the Norwegian Continental Shelf

作者：Berntsen Martin; Boe Kristine Skjong; Jordal Therese; Molnar Peter^*

来源：Energy, 2018, 148: 904-914.

DOI：10.1016/j.energy.2018.01.147

• Oil exploration
• Investment timing
• Oil price

This paper studies the investment decisions by oil and gas companies operating on the Norwegian Continental Shelf. We account for the heterogeneity across the fields by including field-specific variables, including geological and geographical variables. We find that the most important factors influencing the investment decisions are the size of the oil and gas reserves, geological variables, and the price of oil. The effect of oil price volatility is insignificant.

• 出版日期2018-4-1