Determinants of oil and gas investments on the Norwegian Continental Shelf
Journal article, Peer reviewed
Accepted version
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http://hdl.handle.net/11250/2582217Utgivelsesdato
2018-02Metadata
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Originalversjon
Berntsen, M. (2018) Determinants of oil and gas investments on the Norwegian Continental Shelf. Energy. 148, pp. 904-914. 10.1016/j.energy.2018.01.147Sammendrag
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.