Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
7407416 | Energy Policy | 2012 | 11 Pages |
Abstract
⺠Remaining oil reserves and average costs are of limited use in forecasting. ⺠We present a bottom-up approach to the modeling of regional oil production. ⺠Producers maximize net present value under technological and physical constraints. ⺠Exploration is modeled as random sampling from a lognormal field size distribution. ⺠Regional production starts declining before half of the recoverable oil is produced.
Related Topics
Physical Sciences and Engineering
Energy
Energy Engineering and Power Technology
Authors
Kristofer Jakobsson, Roger Bentley, Bengt Söderbergh, Kjell Aleklett,