Norway’s December oil output lower than expected over Goliat stoppage

Norway’s oil production in December 2017 was lower than expected by the Norwegian Petroleum Directorate (NPD), a government agency in charge of regulating the petroleum resources in the country.

The NPD said on Tuesday that preliminary production figures for December 2017 showed an average daily production of 1,932,000 barrels of oil, NGL, and condensate, which is an increase of 26,000 barrels per day compared to November.

Total gas sales were 11.2 billion Sm3 (GSm3), which is an increase of 0.3 GSM3 from the previous month.

Average daily liquids production in December was: 1,538,000 barrels of oil, 363,000 barrels of NGL, and 31,000 barrels of condensate.

The oil production was approximately four percent lower than the NPD’s forecast, and about 1.7 percent below the forecast this year.

According to the NPD, the main reason that production in December was below forecast is that Goliat was closed until the 17th of December and also due to technical problems and maintenance work on some other fields.

The total petroleum production in 2017 inclusive preliminary December figures was 238.7 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: 92.3 MSm3 o.e. of oil, 22.2 MSm3 o.e. of NGL, and condensate and 124.2 MSm3 o.e. of gas for sale. The total volume is 6.0 MSm3 o.e. higher than in 2016.

Final production figures from November 2017 show an average daily production of about 1.510 million barrels of oil, 0.396 million barrels of NGL and condensate, and a total of 10.9 billion Sm3 saleable gas production.

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Posted on January 23, 2018 with tags , .

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