Determinants of oil and gas investments on the Norwegian Continental Shelf

被引：14
|
作者：
Berntsen, Martin [1 ]
Boe, Kristine Skjong [1 ]
Jordal, Therese [1 ]
Molnar, Peter [2 ,3 ]
机构：
[1] Norwegian Univ Sci & Technol, Dept Ind Econ & Technol Management, Trondheim, Norway
[2] Univ Stavanger, UiS Business Sch, Stavanger, Norway
[3] Univ Econ, Dept Finance & Accounting, Prague, Czech Republic
来源：
ENERGY | 2018年 / 148卷
关键词：
Oil exploration; Investment timing; Oil price; UNCERTAINTY; OPTIONS; FUTURES;
D O I：
10.1016/j.energy.2018.01.147
中图分类号：
O414.1 [热力学];
学科分类号：
摘要：
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. (C) 2018 Elsevier Ltd. All rights reserved.
引用
收藏
页码：904 / 914
页数：11
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