Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/147406
Authors: 
Lorentzen, Sindre
Osmundsen, Petter
Year of Publication: 
2016
Series/Report no.: 
CESifo Working Paper 6153
Abstract: 
The oil and gas sector plays a crucial role in the Norwegian economy. It accounts for a very large proportion of gross domestic product, government revenues, investment and exports. A sharp fall in oil prices has had a significant impact on the economy and focused great attention on the cost side of the sector. Enhancing cost efficiency and curbing cost overruns now top the agenda. It is not difficult to find examples of projects suffering extensive cost overruns. What factors underlie these overruns? Media coverage might easily give the impression that Norway's oil and gas sector is suffering from a lack of ability and competence to plan and execute projects to budget. Is this reputation deserved? Does the oil sector perform more poorly in Norway than in other producer nations? Can we see learning effects? How do the Norwegian and the international oil industry compare with other industries with respect to cost performance?
Subjects: 
cost overrun
petroleum industry
experience
comparison
JEL: 
D22
D24
G31
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.