The effect of oil prices on offshore production: evidence from the Norwegian Continental Shelf

Johannes Mauritzen ()

No 2014/7, Discussion Papers from Norwegian School of Economics, Department of Business and Management Science

Abstract: I use detailed field-level data on Norwegian off-shore oil field production and a semi-parametric additive model to control for the production profile of fields to estimate the effect of oil prices on production. I find no significant evidence of a concurrent reaction of field production to oil prices, though a slight lagged effect is found of the magnitude of approximately 2 to 4% for a 10 dollar per barrel increase in the real price of oil. Most of this effect appears to come in the planning phase of a field’s development.

Keywords: Oil prices; offshore production (search for similar items in EconPapers)
JEL-codes: Q00 Q40 (search for similar items in EconPapers)
Pages: 65 pages
Date: 2014-02-28
New Economics Papers: this item is included in nep-ene
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