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Analyzing Oil Production in Developing Countries: A Case Study of Egypt

Abstract:
This article presents a detailed simulation analysis of the domestic oil sector in Egypt; a near-typical, non-OPEC, oil-producing developing country. Egypt is a small producer by international standards, yet significant enough that its oil production is important for the country's economy and under certain conditions, for the international oil market as well. A dynamic computer simulation model that depicts significant characteristics of the country's oil sector is utilized to explore the implications of alternative scenarios for government policies, world oil prices, and geological parameters on patterns of production, exports, and export earnings.

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Energy Specializations: Petroleum – Exploration and Production; Energy and the Economy –Economic Growth and Energy Demand; Energy and the Economy – Resource Endowments and Economic Performance

JEL Codes:
D24 - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
O13 - Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
Q34 - Natural Resources and Domestic and International Conflicts

Keywords: Oil production, Developing countries, Egyptian Petroleum model

DOI: 10.5547/ISSN0195-6574-EJ-Vol11-No3-5


Published in Volume 11, Number 3 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.