Development projects in the oil industry often have cost overruns. Through analysis of data from Norwegian development projects in the petroleum industry, this paper investigates the common effect of business cycle developments on cost overruns. Lack of capacity and expertise in a tight supplier...

This paper studies how drilling costs are affected by the business cycle. We decompose the major elements in these costs - rig rates and drilling speed - and examine how they interact with variations in oil prices. A highly relevant consideration in the current circumstances is whether oil...

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...