Norway: October oil output down vs. 2014, but above prognosis

Norway October oil output down year on year, but above prognosis

The Norwegian Petroleum Directorate has revealed preliminary production figures for October 2015.

The figures show an average daily production of about 1 946 000 barrels of oil, NGL and condensate. This is 85 000 barrels per day (about 4.5 percent) more than September 2015.

Total gas sales were about 10.8 billion Sm3, which is 1.5 GSm3 more than previous month.

The average daily liquid production in October was: 1 567 000 barrels of oil, 334 000 barrels of NGL and 44 000 barrels of condensate. The oil production is 0.5 percent below the oil production in October last year.

The oil production is about 2 percent above the NPD’s prognosis for the month.

The total petroleum production for the first ten months in 2015 is about 188.6 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 74.9 MSm3 o.e. of oil, about 18.2 MSm3 o.e. of NGL and condensate and about 95.5 MSm3 o.e. of gas for sale. The total volume is 10.3 MSm3 o.e. higher than for the same period in 2014.

Final production figures from September 2015 show an average daily production of about 1.539 million barrels of oil, 0.322 million barrels of NGL and condensate and a total of 9.3 billion Sm3 saleable gas production.

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