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The End of Easy Oil: Estimating Average Production Costs for Oil Fields around the World
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Program on Energy and Sustainable Development Working Paper #72

March 2008

This paper develops empirical models for average oil production costs that represent the structural field-level and country-level determinants most characteristic for the new era beyond easy oil. These models lend themselves as a tool for forecasting the floor of structural cost trends related to the shift into more cost intensive fields that are increasingly producing heavy and extra-heavy crudes and that are located offshore and in countries fraught with high levels of political and environmental risks.

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