ENE476 Offshore Energy Resources

• Topics

  Topics

  • Overview of energy markets in historical perspective
  • The international law of the sea and offshore oil and gas extraction
  • Economic analysis of oil and gas extraction
  • Price formation and markets for oil and gas
  • Tax regimes for oil and gas extraction
  • Challenges of the green transition

• Learning outcome

  Knowledge

  Upon completing the course the student has knowledge of

  • How world energy markets have developed since World War II
  • The Exclusive Economic Zone and its meaning for offshore oil and gas extraction, offshore wind, as well as supplementary rules in the UN Law of the Sea Treaty
  • Basic dynamics governing oil and gas extraction and its shut-down date
  • Theories of price formation for non-renewable resources such as oil and gas
  • Basic challenges and pitfalls in designing tax regimes for oil and gas extraction
  • Challenges in dealing with intermittency of wind power
  • Development and status for emissions and concentration of carbon dioxide in the atmosphere

  Skills

  Upon completing the course the student has

  • Ability to formulate and solve simple numerical models in Excel spreadsheets
  • Ability to formulate and solve analytical models

  General competence

  Upon completing the course the student will be able to

  • Assess the likelihood of slow versus rapid energy market transformation
  • Identify the main drivers behind price changes in markets for oil and gas
  • Evaluate alternative taxation regimes for oil and gas resources
  • Discuss in an informed manner basic issues of energy markets

• Teaching

  Morning sessions with lectures and work on analytical and modeling assignments under supervision in the afternoon.

• Credit reduction due to overlap

  None.

• Compulsory Activity

  Attendance of morning lectures and analytical and modeling sessions in the afternoon.

• Assessment

  Successful completion of analytical and modeling exercises discussed in the afternoon sessions. These will be posted day by day and then transmitted together to the students in Wiseflow at the end of the seminar with a delivery deadline of two weeks.

• Grading Scale

  Pass-Fail

• Literature

  This is a short seminar with a tight schedule, so the lecture slides are meant to be self-contained. References to relevant literature will be provided in the lectures, as needed.