Discussion Papers, Department of Business and Management Science, Norwegian School of Economics (NHH)
The effect of oil prices on offshore production: evidence from the Norwegian Continental Shelf
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; (follow links to similar papers)
JEL-Codes: Q00; Q40; (follow links to similar papers)
65 pages, February 28, 2014
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