Discovery Of Oil Fields Research Articles

Assessing the feasibility of suspended BOP transportation and its impact on fatigue life

The sailing of the drilling rig along with its subsea equipment, such as, the drilling riser and the blowout preventer (BOP), from one well to another using traditional methods is a time-consuming operation. Typically, this process involves lowering and retrieving the BOP after drilling, followed by moving the rig to another well to be drilled, and again lowering the BOP and subsequently retrieving it. This method becomes even more time-consuming in ultra-deep waters, where recent oil field discoveries have taken place, as the deeper the water depths, the more time is required for such operations. Considering the high costs associated with renting and operating drilling rigs, operators are looking for ways to make these processes more efficient. One promising alternative is the method of navigation with the BOP suspended at a certain distance from the seabed, eliminating the need to retrieve the entire drilling riser and BOP, resulting in significant optimization of the process of transferring the drilling rig and its subsea equipment between wells.During the navigation of the BOP, hydrodynamic and inertial forces are exerted on the suspended riser column and the subsea BOP. In this present work, analyses of fatigue resulting from the effects of waves and vortex-induced vibration resulting from current speed and navigation, will be conducted for different lengths of the riser column. The results of these analyses will be presented, and the software used to obtain these results will be Orcaflex and Shear7.

Prospects for the discovery of new oil and gas areas and fields in the Kura depression of Azerbaijan

In recent years, field studies have been carried out in the Kura Depression of Azerbaijan on regional and detailed profiles of various lengths using complex geophysical methods (gravity-magnetometric, 2D and 3D seismic) exploration. Compared to other sections of the Middle Kura Depression, the volume of the regional profile network of various lengths in the Kura-Gabyrra section can be considered satisfactory. Although the volume of worked regional profiles of various lengths in the northeastern part of the Yevlakh-Agjabedi depression is small, in its central part and southeastern side it can be considered relatively satisfactory. Although these research works were carried out to a certain extent in the south-southeastern parts of the Mugan monocline and the Lower Kura depression, they were almost not carried out in the Shamakhi-Gobustan regions. Currently, there are ample opportunities to carry out these research efforts. The results presented in the article were obtained during field studies carried out using Canadian-made CG-5 Scintrex Autograv gravimeters and Russian-made PKM-1M magnetometric devices. Nowadays, the latest model CG-6 Scintrex Autograv gravimeters from Canada, GEOMETRIC G-857 magnetometers from the USA, as well as recently applied new processing and interpretation methods have allowed these issues to be addressed at a high level. From the results obtained, it became clear that many territories, whether in terms of geological structure or oil and gas content, are either poorly studied or not studied at all. As a result of the research, it is assumed that there are new structural complications (or structures), oil and gas areas, as well as the possibility of discovering new fields. In the future, it is possible to discover dozens of new fields and oil and gas areas in the Kura depression by conducting detailed complex geophysical (seismic-gravimagnetic) exploration work on identified new structural complications (or structures) and characteristic gravitational minima (areas characterizing oil and gas).

Architecture and exploration target areas of the Senegal Basin, West Africa

The recent discovery of large oil and gas fields in the deep-water of the Senegal Basin has drawn global attention. Despite this, several exploration wells in this area fail, which can be primarily contributed to a lack of understanding of the basin's structures and hydrocarbon accumulation conditions. This study examines these characteristics utilizing gravity, seismic and drilling data, and finally makes a comparison with the Cote d’Ivoire Basin, a typical transform margin basin in the South Atlantic. The results suggest that the Senegal Basin, influenced by multiple transform faults and a weak Paleozoic basement, experienced three evolutionary stages: rifting, transitional, and drifting. Each stage contributed to the development of distinct depositional sequences - syn-rift sequences, sag sequences, and continental margin sequences, respectively. The Triassic - Early Jurassic rifting stage predominantly formed continental deposits, like fluvial, lacustrine, and deltaic deposits, in the syn-rift sequences. The Middle-Late Jurassic transitional stage, influenced by transform faults, witnessed the formation of marginal ridges or submarine uplift zones. These zones, in conjunction with landward high terrains, formed a restricted environment promoting the development of source rocks in the sag sequences. During the drifting stage, three types of reservoirs, namely platform carbonate rocks, deltas, and slope-floor fans were formed. Notably, large-scale hydrocarbon reservoirs have been found in the deltas and the slope-floor fans both in the Senegal Basin and the Cote d’Ivoire Basin. The Upper Jurassic - Aptian platforms exhibit thick carbonate rocks and organic reefs on their edges, suggesting substantial potential for hydrocarbon exploration in the Senegal Basin.

Advances in Drilling and Completion Fluid Technologies for Protecting Oil and Gas Reservoirs: Research Progress and Development Trends

Abstract The exploration and development of oil and gas reservoirs present significant challenges in achieving objectives such as increased reserves, enhanced production, and improved efficiency. The protection of reservoirs has been internationally recognized as a crucial technology for enabling high output with minimal investment, specifically due to the susceptibility of the drilling and completion phases to severe damage. The resulting harm significantly reduces oil and gas production and may cause drilled wells to become nonproductive, thereby hampering oil and gas field discoveries. Over the past half-century, scholars have extensively researched and developed four generations of temporary plugging-based technologies for oil and gas reservoir protection, including shielding temporary plugging, fine temporary plugging, temporary plugging with physiochemical film, and biomimetic temporary plugging. These advancements have progressively enhanced the effectiveness of reservoir protection. However, the increasing depth and complexity of oil and gas exploration and development have rendered previous technologies inadequate in providing sufficient protection, resulting in amplified risks to drilling safety such as circulation loss, sloughing, obstruction, drill pipe sticking, and blowouts. To overcome these challenges, the development of drilling and completion fluid technologies capable of forming a liquid casing during drilling has emerged as a novel solution for safeguarding oil and gas reservoirs. The successful implementation of this technology on a large scale enables the efficient development of untapped oil and gas resources, marking a breakthrough in reservoir protection. It also identifies future research directions and has practical implications for field technicians and scientific professionals.

Annular expansion for enhanced orientation and mechanical properties of extruded amorphous PPESK/PES pipes

AbstractWith the discovery of deeper oil fields, conventional metal pumping pipes have been proven to be ineffective in meeting the requirements for deep well oil production due to their high weights and limited corrosion resistance. Therefore, in this study, a composite of Poly(phthalazinone ether sulfone ketone) (PPESK) and polyethersulfone (PES) was used to fabricate nonmetal pipes. To enhance the mechanical properties of the PPESK/PES pipes, a self‐designed annular expansion pipe extruder head was used. The circumferential burst stress and axial tensile strength of the PPESK/PES pipes subjected to 30° expansion were 73.0% and 48.9% higher than those of the unexpanded sample, respectively. When annular expansion was integrated into the extrusion of PPESK/PES/carbon fiber pipes, the axial tensile strength and circumferential burst stress were 45.9% and 88.8% higher than those of the unexpanded sample, respectively. Results of polarized infrared testing and metallographic microscopic examinations demonstrated that molecular chains present a regular orientation at a certain angle to the extrusion direction, under the effect of annular expansion extrusion. These findings highlight the efficiency of annular expansion in promoting the large‐scale production of pipes.

Hydrocarbon Source Rock Evaluation of the Lucaogou Shale in the Periphery of Bogeda Mountain (SE Junggar Basin, China) and Its Implications for Shale Oil Exploration: Insights from Organic Geochemistry, Petrology, and Kinetics Pyrolysis

Since the discovery of the vast Jimusaer shale oilfield in the southeastern Junggar Basin in 2012, there has been considerable interest in neighboring areas around Bogeda Mountain that have shale oil potential. The primary productive interval in the basin, the Middle Permian Lucaogou Formation (P2l), is well-developed in the areas of Qitai, Mulei, Shiqiantan, Chaiwopu, and Miquan. In this study, we conducted an assessment of the hydrocarbon generation potential of the P2l in these five areas and compared it with that of the P2l in the Jimusaer oilfield, which were determined by GC-MS, total organic carbon (TOC) and vitrinite reflectance (Ro) measurements, Rock-Eval pyrolysis, and organic petrology to investigate the type, origin, thermal maturity, hydrocarbon potential, and oil/gas proneness of organic matter in the P2l. Additionally, we applied open-system pyrolysis of hydrocarbon generation kinetics to explore differences in hydrocarbon generation and expulsion across various P2l mudstone/shale in the southeastern Junggar Basin. The findings of this study revealed that the P2l shale in Qitai and Miquan areas contains more abundant and lower thermally mature organic matter (early mature–mature stage), characterized by primarily Type II1–I kerogen, similar to that found in the P2l shale of the Jimusaer oilfield. Conversely, the P2l shale in Mulei, Shiqiantan, and Chaiwopu contains less abundant and more thermally mature organic matter (mainly mature–highly mature stage), dominated by Type II2–III kerogen. Consequently, shale in these areas is considerably less desirable for oil exploration compared to the Jimusaer shale. The semi-deep to deep lake facies in Miquan and Qitai exhibit the most promising exploration potential. This study can serve as a guide for shale oil exploration in the southeastern Junggar Basin.

Government responses to oilfield discoveries: Impact of resource wealth on non-resource tax revenues

It has often been argued that countries that produce natural resources mobilize less non-resource tax revenues than other countries. In this paper, we exploit the exogenous variation in the timing of giant oilfield discoveries to estimate the causal impact of natural resources on taxation. The timing of giant oilfield discoveries is arguably exogenous and thus renders them appealing to empirically examine this argument. This allows us to examine the performance of non-resource tax revenue effort before and immediately after discovery as well as the period corresponding to the inflow of revenues from the production. We find that non-resource tax revenues tend to increase in the period following the discovery before the onset of production and after production commences. This effect is due to an increase in non-resource indirect tax revenues. Further analysis shows that both the total and indirect non-resource tax revenues, experience an increase in only low- -middle income countries, and largely driven by an increase in the consumption of goods and services.

THE MODERN OIL INDUSTRY IN IRAN: A HISTORICAL PERSPECTIVE AND REVIEW

The production of petroleum substances has a long historical tradition in Iran. Glance (1970) reported that the “first man‐made oil well was dug” in the ancient city of Susa (present‐day Shush), about 40 km northwest of Ahwaz, in 500 BC during the reign of the Achaemenid emperor Darius I. Writing in the fifth century BC, Herodotus described petroleum production near a place called Ardericca, probably present‐day Masjed Soleyman, located 210 furlongs from Susa (Lees, 1950). The petroleum substances produced included bitumen which was used in construction and the waterproofing of ships. Sorkhabi (2005) detailed the petroleum history in Iran during ancient and medieval times.The modern quest for oil in Iran dates from the second half of the 19th century. From a historical perspective, this modern period can be divided into six distinct phases: (i) The early years, 1872–1900; (ii) The Anglo‐Persian years, 1901–1932; (iii) The Anglo‐Iranian Years and Nationalization, 1933–1953; (iv) The second Pahlavi years, 1954–1978 including the rise of OPEC; (v) The Islamic Revolution and Iran‐Iraq War, 1979–1989; and (vi) Buyback Contracts and US Sanctions, 1990–Present. The search for oil was singularly unsuccessful during the first of these phases and the early years of the second phase. However, after a difficult six‐year exploration campaign, oil in commercial quantities was struck in the early hours of 26 May, 1908 at Maidan‐e Naftun, which in later years achieved world fame as the Masjed Soleyman oil field. Since then, more than 120 oil and gas field discoveries have been made in Iran's onshore areas and its territorial waters in the Persian Gulf.The story of oil has always been an emotive and politically charged issue in Iran and has been the focus of great national interest and debate for over a century. Certainly, the discovery in 1908 marked a milestone in Iran's 20th century history: it ushered in a new era – an era not only of progress and prosperity, but also of social and political upheaval and turmoil that has not yet ended (Ala, 2007). In this paper, important events in each of the historical phases identified above are briefly reviewed. Emphasis is placed on the emergence of the modern petroleum industry in Iran, and the early phases are covered in particular detail.

Book Review of A Brief History of Oil: From Technological Progress to Changing the World

In order to explore the connection between oil and economy, society and politics, and grasp the future development trend of the oil field, Vaclav Smil introduced the development history of oil from the perspective of economy, society and politics, and then discussed the problems encountered by human beings in oil exploration, production, transportation, refining and sales, and introduced the huge creativity gradually accumulated by human beings in the process of extracting and processing oil, which made crude oil the world's most important source of energy. A Brief History of Oil: From Technological Progress to Changing the World is a book by Vaclav Smil, which consists of 12 chapters in 5 parts. It mainly covers the advantages and disadvantages of oil; The composition of oil and the geological conditions of its extraction; The improvement of oil exploitation technology and the discovery of super-large oil fields; Discovery of recoverable crude oil, development of oil fields, the management of extraction, refining and transportation; Finally, it concludes with reflections on the future of oil under the new pattern of energy strategy. The feature of this work is to obtain analytical data by examining the relationship between petroleum and society, economy and politics, to provide support for the optimization of petroleum system, and to provide scientific reference for scientists, educators, and managers engaged in the petroleum industry.

A REVIEW OF ENHANCED OIL RECOVERY METHODS USED IN THE FIELDS OF KAZAKHSTAN

Application of enhanced oil recovery methods in Kazakhstan has been ongoing for decades alongside the continued discovery of new oil and gas fields in the Pre-Caspian Basin. The objective of this review is to provide an overview of the hydrocarbon reserves and production, and the status of the petroleum industry in Kazakhstan, with a focus on the EOR methods and projects being applied to recover those reserves. A summary of the specific EOR methods in use was prepared, and existing enhanced recovery projects in Kazakhstan were reviewed and their successes and challenges were investigated. The performance of these projects in the context of EOR performance indicators such as capillary number and mobility ratio, as well as operational and environmental issues, were examined. Recommendations for current and potential applications of EOR in Kazakhstan were also discussed. The widespread application of thermal EOR methods, in use for decades in Kazakhstan’s older fields, was found to be successful, with very favorable impacts on mobility ratio from the addition of thermal energy to the reservoirs. Miscible EOR methods in Kazakhstan have had more limited success, with some significant challenges due to high concentration of hydrogen sulfide in the injected gas. Polymer injection started in the late 1960s, achieving good results. A recent polymer injection pilot project has shown some promise, with a favorable impact on mobility ratio and oil production, although the project has not yet been expanded beyond two polymer injectors. These results indicate the huge potential of existing and future EOR projects. This review is the first compilation of Kazakhstan’s existing oil and gas reserves, production, and EOR project performance, and should be seen as a guide to the existing applications of EOR methods in Kazakhstan.

Managing the Dynamics of the US Gas and Oil Market: An In-depth Analysis

The United States of America (US) has long been a key player in the global energy landscape, with its gas and oil market serving as a critical component of both its domestic economy and international relations. This paper provides a comprehensive overview of the US's gas and oil market, analysing its historical evolution, current state, and prospects. The paper begins by tracing the historical developments that have shaped the US's gas and oil industry, including key milestones such as the discovery of major oil fields, the growth of shale gas production, and the impact of geopolitical events on market dynamics. It then delves into the contemporary landscape, examining the major players in the industry, production and consumption trends, infrastructure, and distribution networks, as well as the regulatory frameworks that govern exploration, extraction, and trade. In this article, the author tries to make an overview of the US gas and oil market from the market from its appearance until today. The gas and oil market legislation and the authorities that regulate and supervise the market are identified and presented. The federal and states transport and distribution system is an overview and their connection. This article also offers a comprehensive analysis of the US gas and oil market, encompassing its historical trajectory, current landscape, economic significance, environmental challenges, and future directions. By examining these facets, it will be provided valuable insights into the complex interplay between energy resources, economic development, and environmental sustainability within the context of a rapidly evolving global energy landscape.

Identifying lithofacies types by boosting algorithm and resampling technique: a case study of deep-water submarine fans in an oil field in West Africa

The continuous discovery of giant oil and gas fields in deep-water low stand fans has made deep-water submarine fan reservoirs with huge oil and gas potential important targets for oil and gas exploration and development. Nowadays, machine learning algorithm has been proven to be an effective method to classify various rock types from geophysical logging data, but rarely has there been focus on predicting deep-water submarine fans in previous studies. In this paper, we utilized five classical Boosting machine learning algorithms, namely GBDT, XGBoost, LightGBM, CatBoost, and LogitBoost, to identify 14 deep-water submarine fan lithofacies types from 7 wells in a West African oilfield. To address the sample non-balance problem, we employed SMOTE and MAHAKIL oversampling techniques and optimized the hyperparameters of the model using Genetic Algorithm. The experimental results show that the model performance is improved by using oversampling technologies and hyperparameter optimization. The proposed MAHAKIL-GA-GBDT algorithm is the most effective in identifying the lithofacies of deep-water submarine fans, with an accuracy of 0.986. This study provides a new approach for identifying deep-water submarine fan lithofacies and highlights the potential of machine learning algorithms in this field.

Роль внутренней трудовой миграции в истории Дацинского нефтяного месторождения (1949–1978 годы)

This paper determines the role of the Chinese state policy in using internal labour migration to ensure accelerated socialist construction of such large industrial facilities as the Daqing Oil Field. The history of the People’s Republic of China from 1949 to 1978 is rich in examples of labour mobilization of military and technical workers as well as young people for the construction and organization of industrial enterprises in adverse climatic conditions. After the discovery of the Daqing Oil Field in the north-eastern province of Heilongjiang in 1959, more than 40,000 military men, engineers and oil workers were relocated to this facility. Chinese workers from the eastern and western provinces took an active part in organizing the process of exploration, drilling, oil extraction and transportation, as well as launching water supply and building storage facilities. Labour migrants were quick to establish new modern settlements in the oil field area under extremely harsh northern conditions. Daqing Oil Field workers steadfastly endured all the hardships, their main slogan being as follows: “Work hard, overcome difficulties, do your best to fight”. The selfless work of internal migrants was highly appreciated by the Chinese government and the Chinese society as a whole. Over 5,000 factories and enterprises throughout China manufactured mechanical and electrical products as well as equipment for the Daqing Oil Field; 200 research and development departments provided technical support to its workers. In the 1960s, an economic campaign “Learn Everything from Daqing” was launched, aimed to share the experience of building this oil field with other regions of China. Party and government officials Zhou Enlai, Zhu De, Dong Biwu, He Long and Chen Yi had repeatedly visited Daqing to inspect the work and evaluate the role of labour migrants from other provinces in the development of the oil industry in Northeast China.

Enhancing Security and Efficiency in Underwater Wireless Sensor Networks: A Lightweight Key Management Framework

Underwater Wireless Sensor Networks (UWSNs) obtains more attention due to their wide range of applications such as underwater oil field discovery, Tsunami monitoring systems, surveillance systems, and many more. In such a resource-constrained environment, sensors are more vulnerable to malicious attacks. Node authentication and secure communication is one of the vital issues in UWSNs. In this study, a secure and lightweight key management framework for UWSNs is proposed. The proposed framework includes key generation, key distribution, revocation, and authentication mechanisms along with lightweight implementation, and scalability. We use an elliptic curve-based algorithm for key distribution, and certificate revocation list (CRL) for key revocation. We also examine the performance of the proposed framework taking into account the amount of communication overhead as well as the level of security. The simulation results show that the proposed framework provides better security with less communication overhead compared to existing frameworks. This framework can be used for secure data communication in UWSNs, which has various applications in oceanography, environmental monitoring, and military operations.

Current Situation in The Development of Electric Vehicles

The electric vehicle officially entered the history books in 1881 when the first electric car was invented and built by French inventor Gustave Trouvé. At the beginning of the twentieth century, the passion for electric vehicles had reached its peak. As the global economy boomed, electric vehicles became popular, selling far more than other powered vehicles. Later, due to the discovery of huge oil fields, lower petrol prices, improved gasoline vehicle's technology, and better road infrastructure, people were gradually abandoning electric vehicles. By the end of the twentieth century, due to the harsh environment and energy shortage, people are focusing on electric vehicles again, becoming the focus of the times. This paper will introduce environmental pollution, the energy crisis, and the need to develop electric vehicles. It will analyse the history and current status of the development of electric vehicles in several countries and regions. Technical aspects of electric vehicles such as range, battery recycling, and safety issues will also be discussed.

Biophysical economic interpretation of the Great Depression: A critical period of an energy transition

AbstractThe objective of this paper is to explain the cause and proceedings of the 1930s Great Depression from a biophysical economic perspective. The Depression was a painful episode in the socio‐technological transition from a coal/railroad regime to one based on hydrocarbons, motor vehicles, and electricity. The beginning—the Great Crash of October 1929—corresponded with drastic cuts in oil prices and announcement of oil supply certainty, following discovery of huge oilfields in the US Southwest. The Depression principally centered on a change from railroads to motor‐vehicle‐based transportation, but was long and drawn‐out due to the hegemonic power that the railroads held over the US economy. The late 1920s saw increased use of hydrocarbon‐based technologies, but the emerging technologies were still reliant on the old technological system. Methods of biophysical economics, mapping energy flows to capital formation, show the critical role of railroads in the Depression. In 1929, railroads accounted for 24% of the non‐residential capital stock; they delivered between 70% and 76% of energy needs; and 69% of energy required for capital formation. Thus a hypothesis emerges that dwindling investment in the railroads was a major constraint on the economy. In biophysical terms, the US economy's main energy delivery system—coal carried by railcars—was hamstrung. Energy flow Sankey diagrams for 1929 and 1939 show the gradual change in energy systems that occurred over the Depression.

MAIN PIPELINES AND THEIR MEASUREMENT METHODS

Today it is difficult to imagine the development of modern society without the discovery of oil and gas fields, the development of ways to transport these products, their processing and the full use of these products in various industries. The general problem of the functioning of the pipeline system is complicated by the fact that the existing firefighting equipment and technologies cannot reliably ensure safety, as evidenced by the growing number of emergencies associated with fires at facilities. The existing control systems for the operation of main oil pipelines require revision and modernization in terms of automation, the introduction of innovative technologies and computer systems. The leak detection method described in the paper is the most promising both for upgrading the leak detection system and for the oil pipeline safety management system as a whole. The leak detection system under study is based on the work of microscopic robots that move along the pipeline along with the oil product. The correct operation of microscopic robots requires a careful approach to the development of their control algorithms. Currently, oil (its products) and gas are the main energy carriers and are considered mass cargoes, so it is of particular importance to transport them continuously with minimum losses, in a short period of time, relatively inexpensively and safely. Oil and oil products are mainly transported by rail, water, road and pipelines. In some cases, oil products can be delivered to operators by air transport methods. The selection of each mentioned transportation method depends on the size and nature of the products to be transported, as well as the location of oil fields, oil refineries, oil bases, and consumers. One of the most important conditions is to minimize costs in all cases and prevent irrational situations. In recent years, the focus on environmental protection, as well as the need to ensure the safety of pipelines and surrounding communities, has intensified the search for innovative solutions to minimize risks and optimize the transportation process. The implementation of advanced leak detection systems, like the one based on microscopic robots, demonstrates the growing emphasis on proactive measures to address pipeline safety concerns. These microscopic robots, also known as nanobots, can be designed with specialized sensors to detect changes in pressure, temperature, and chemical composition within the pipeline. By continuously monitoring the conditions inside the pipeline, the nanobots can quickly identify any deviations from the normal operation and alert the control systems about potential leaks or other issues. This real-time data can then be used to implement timely interventions, preventing catastrophic failures and minimizing environmental impact. Keywords: Pipeline, oil, development, product,

Предшественники и участники открытия Марковского месторождения нефти и газа

The history of the discovery of the first oil and gas fields on the Siberian platform is traced from the first oil deposit on Chemikanskaya Square in the Tolba River basin (Sakha-Yakutia) to the discovery of the first Markov oil and gas condensate field. The role of the father of Siberian oil Vasily Mikhailovich Senyukov in obtaining the first oil on the Siberian platform and in promoting the idea of reference drilling within its limits is shown. Despite the accidental discovery of the Markov field (oil fountain) in 1962, exploration work within its limits indicated the further direction of the search in the north direction 90 km from Markovo (within the Nepsky Vault).

Evaluation of residual strength of polymeric yarns subjected to previous impact loads

The discovery of oil fields in deep and ultra-deep waters provided an opportunity to evaluate the use of synthetic ropes, complementarily or alternatively to traditional steel-based mooring lines in offshore units, mainly because of the former’s lower specific weight. Considering the series of complex dynamic-mechanical mainly axial loads to which these structures may be subjected, originated from different sources, such as wind, water current, tide, etc., there may be cases when at least one of these lines may possibly face an abrupt, shock-like axial load of considerably larger magnitude. The goal of the present study is to evaluate the residual tensile strength of three different synthetic yarns (polyester, and two grades of high modulus polyethylene) after exposure to such axial impact loads. It was observed that, for the tested materials, polyester is the one with the largest impact resistance to the conditions evaluated herein, mainly because of its comparatively greater energy absorption properties.

Does natural resource extraction compromise future well-being? Norwegian Genuine Savings, 1865-2018

In recent years Genuine Savings (GS) has emerged as an indicator of weak sustainability and predictor of socio-economic well-being. This paper presents the first long-term GS estimates for Norway, covering the period from 1865 until 2018. The preliminary results indicate unsustainable development throughout most of the period leading up to the Second World War and positive GS since 1946, with a single exception in 1992. This result is rather surprising since the discovery of oil and natural gas fields in 1969 resulted in substantial natural resource depletion, which is usually associated with negative levels of GS. However, in a particularity compared to most natural resource exporters, Norway managed to achieve sustainable development by compensating natural resource depletion with high investments into human and physical capital.