Norwegian oil output in September falls below forecast

Norwegian oil production during September 2019 fell below expected levels, according to Tuesday’s report by the Norwegian Petroleum Directorate (NPD). 

Preliminary production figures for September show an average daily production of 1,574,000 barrels of oil, NGL and condensate, which is a decrease of 86,000 barrels per day compared to August.

Total gas sales were 5.8 billion Sm3 (GSm3), which is a decrease of 2.4 GSm3 from the previous month.

Average daily liquids production in September was: 1,312,000 barrels of oil, 244,000 barrels of NGL and 18,000 barrels of condensate.

Oil production in September was 7.7 percent lower than the NPD’s forecast, and 4.1 percent below the forecast so far this year.

The main reasons for falling below forecast were technical problems and maintenance work on some fields.

The total petroleum production for the first nine months in 2019 is about 157.1 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 57.7 MSm3 o.e. of oil, about 14,5 MSm3 o.e. of NGL and condensate, and about 84.9 MSm3 o.e. of gas for sale. The total volume is 13.8 MSm3 o.e. lower than in 2018.

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