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Determinants of oil and gas investments on the Norwegian Continental Shelf

Martin Berntsen, Kristine Skjong Bøe, Therese Jordal and Peter Molnár

Energy, 2018, vol. 148, issue C, 904-914

Abstract: 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.

Keywords: Oil exploration; Investment timing; Oil price (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:eee:energy:v:148:y:2018:i:c:p:904-914