Energy Return on Investment for Norwegian Oil and Gas from 1991 to 2008
Norwegian oil and gas fields are relatively new and of high quality, which has led, during recent decades, to very high profitability both financially and in terms of energy production. One useful measure for profitability is Energy Return on Investment, EROI. Our analysis shows that EROI for Norwegian petroleum production ranged from 44:1 in the early 1990s to a maximum of 59:1 in 1996, to about 40:1 in the latter half of the last decade. To compare globally, only very few, if any, resources show such favorable EROI values as those found in the Norwegian oil and gas sector. However, the declining trend in recent years is most likely due to ageing of the fields whereas varying drilling intensity might have a smaller impact on the net energy gain of the fields. We expect the EROI of Norwegian oil and gas production to deteriorate further as the fields become older. More energy-intensive production techniques will gain in importance.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Höök, Mikael & Aleklett, Kjell, 2008. "A decline rate study of Norwegian oil production," Energy Policy, Elsevier, vol. 36(11), pages 4262-4271, November.
- Cleveland, Cutler J., 2005. "Net energy from the extraction of oil and gas in the United States," Energy, Elsevier, vol. 30(5), pages 769-782.
- Adam R. Brandt, 2011. "Oil Depletion and the Energy Efficiency of Oil Production: The Case of California," Sustainability, MDPI, Open Access Journal, vol. 3(10), pages 1-22, October.
- Rodriguez, Xose Anton & Arias, Carlos, 2008.
"The effects of resource depletion on coal mining productivity,"
Elsevier, vol. 30(2), pages 397-408, March.
- Arias, Carlos & Rodríguez, Xosé Antón, 2005. "The Effects of Resource Depletion on Coal Mining Productivity," Efficiency Series Papers 2005/06, University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG).
- Arias, Carlos & Rodríguez, Xosé Antón, 2005. "The Effects of Resource Depletion on Coal Mining Productivity," Efficiency Series Papers 2005/05, University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG).
- Philip F. Henshaw & Carey King & Jay Zarnikau, 2011. "System Energy Assessment (SEA), Defining a Standard Measure of EROI for Energy Businesses as Whole Systems," Sustainability, MDPI, Open Access Journal, vol. 3(10), pages 1-36, October.
- David J. Murphy & Charles A.S. Hall & Michael Dale & Cutler Cleveland, 2011. "Order from Chaos: A Preliminary Protocol for Determining the EROI of Fuels," Sustainability, MDPI, Open Access Journal, vol. 3(10), pages 1-20, October. Full references (including those not matched with items on IDEAS)