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What is Irreversible Investment in North Sea Oil about?

This paper examines the implications of irreversible investment models using North Sea oil data, focusing on the appraisal duration between oil field discovery and development decision. The study utilizes discrete-time hazard regression models to analyze the influence of economic variables, particularly the expected price of oil and reserves, while also accounting for geological and operator characteristics. Results indicate that while expected oil prices and reserves significantly affect appraisal duration

Author

jd4rf6wvmd

Language

EN