We investigate the potential for statistical forecasting of aggregate oil and gas investment on the Norwegian Continental Shelf (NCS). A unique and detailed dataset containing data from 109 different fields on the NCS between 1970 and 2015 was employed. A set of 1080 autoregressive distributed...

Future production forecasts are the final output of the uncertainty quantification workflows in the oil and gas industry and are essential for decision making. Exploration and production companies have every interest in being unbiased in their forecasts and getting uncertainty estimates right,...