Norwegian oil output in May below forecast

Norwegian oil production during May 2019 dropped below expected levels due to technical problems and maintenance on some fields, according to Thursday’s report by the Norwegian Petroleum Directorate (NPD).

Gina Krog by night; Photo by: Øyvind Torjusen; Source: Equinor

Preliminary production figures for May 2019 show an average daily production of 1,599,000 barrels of oil, NGL and condensate, which is a decrease of 120,000 barrels per day compared to April.

Total gas sales were 9.9 billion Sm3 (GSm3), which is a decrease of 0.1 GSm3 from the previous month.

Average daily liquids production in May was: 1,250,000 barrels of oil, 319,000 barrels of NGL, and 29,000 barrels of condensate.

Oil production in May was 5.4 percent lower than the NPD’s forecast, and about 2.5 percent below the forecast so far this year.

The NPD stated that the main reasons production in May fell below forecast were technical problems and maintenance work on some fields.

The total petroleum production for the first five months in 2019 is about 93.4 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 32.9 MSm3 o.e. of oil, about 8,6 MSm3 o.e. of NGL and condensate, and about 51.9 MSm3 o.e. of gas for sale. The total volume is 3.2 MSm3 o.e. lower than in 2018.


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Posted on June 20, 2019 with tags , .

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