Norway: August oil production beats forecast

Norway August oil production beats forecast

Norwegian Petroleum Directorate’s preliminary production figures for August 2016 show an average daily production of 1 929 000 barrels of oil, NGL and condensate, which is a decrease of 202 000 barrels per day (approximately 9.5 percent) compared to July.

Total gas sales were 8.1 billion Sm3 (GSm3), which is a decrease of 0.9 GSM3 from the previous month.

Average daily liquids production in August was: 1 558 000 barrels of oil, 337 000 barrels of NGL and 33 000 barrels of condensate. The oil production is equal to the oil production in August last year and is about 9 percent above the NPD’s prognosis.

Production is less than last month, but not as low as expected considering, among other things, that Kårstø was closed for maintenance and production on Eni’s Goliat stopped at the end of the month.

The total petroleum production for the first eight months in 2016 is about 155.6 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 62.1 MSm3 o.e. of oil, about 15.4 MSm3 o.e. of NGL and condensate and about 78.2 MSm3 o.e. of gas for sale. The total volume is 5.7 MSm3 o.e. higher than in 2015.

Final production figures from July 2016 show an average daily production of about 1.735 million barrels of oil, 0.396 million barrels of NGL and condensate and a total of 9.0 billion Sm3 saleable gas production.

 

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Posted on September 20, 2016 with tags , .

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