Norway’s monthly oil output beats NPD’s prognosis

Shell's Draugen platform offshore Norway (For illustration)
Shell’s Draugen platform offshore Norway (For illustration)

According to a report by Norway’s government agency in charge of managing the oil and gas resources in Norway, the Norwegian Petroleum Directorate (NPD), the oil production in April was higher when compared to the same period last year, and above NPD’s prognosis for the month. 

As the oil production in Norway in March 2016 was also 4 pct higher when compared to March 2015, this is Norway’s second month in a row with increased production.

According to the report, preliminary production figures for April 2016 show an average daily production of about 2 029 000 barrels of oil, NGL and condensate. This is 20 000 barrels per day (about 1 percent) more than March 2016.

Total gas sales were about 10.5 billion Sm3, which is 0.7 GSm3 less than previous month.

The average daily liquid production in April was: 1 625 000 barrels of oil, 374 000 barrels of NGL and 30 000 barrels of condensate. The oil production is about 4 percent above the oil production in April last year.

The oil production is about 3 percent above the NPD’s prognosis for the month.

The total petroleum production for the first four months in 2016 is about 82.5 million Sm3oil equivalents (MSm3 o.e.), broken down as follows: about 31.2 MSm3 o.e. of oil, about 7.9 MSm3 o.e. of NGL and condensate and about 43.3 MSm3 o.e. of gas for sale. The total volume is 6.6 MSm3 o.e. higher than in 2015.

Final production figures from March 2016 show an average daily production of about 1.606 million barrels of oil, 0.403 million barrels of NGL and condensate and a total of 11.2 billion Sm3 saleable gas production.

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Posted on May 20, 2016 with tags , .

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