Norway: August oil production beats prognosis

The Norwegian Petroleum Directorate has informed that preliminary production figures for August 2014 indicate an average daily production of about 1 842 000 barrels of oil, NGL and condensate.

This is 79 000 barrels per day (about 4 percent) less than in July 2014.

Total gas sales were about 7.3 billion Sm3, which is 0.7 GSm3 less than the previous month.

The average daily liquid production in August was: 1 485 000 barrels of oil, 301 000 barrels of NGL and 56 000 barrels of condensate. The oil production is 10 percent above the NPD’s prognosis for August and 1.0 percent above the oil production in August last year.

The Fram, Skuld and Troll fields had reduced production in August due to maintenance and technical problems.

So far this year the oil production is about 2 percent above the NPD’s prognosis.

The total petroleum production for the first eight months in 2014 is about 141.7 million standard cubic meters oil equivalents. (MSm3 o.e.), broken down as follows: about 57.2 MSm3 o.e. of oil, about 15.2 MSm3 o.e. of NGL and condensate and about 69.3 MSm3 o.e. of gas for sale. The total oil volume is 0.4 MSm3 o.e., about 1.0 percent higher than for the same period in 2013.

Final production figures from July 2014 show an average daily production of about 1.508 million barrels of oil, 0.412 million barrels of NGL and condensate and a total of 8.0 billion Sm3 saleable gas production.

Related: Oil production in July beats NPD forecast (Norway)