Norway: December Oil Production Misses Target

The Norwegian Petroleum Directorate has announced that preliminary production figures for December 2013 indicate an average daily production of about 1 916 000 barrels of oil, NGL and condensate.

This is 12 000 barrels per day (about 0.7 percent) more than in November 2013. Total gas sales were about 10.2 billion Sm3, which is 0,8 GSm3 more than the previous month.

The average daily liquid production in December was: 1 543 000 barrels of oil, 305 000 barrels of NGL and 68 000 barrels of condensate. The oil production is 2 percent below the NPD’s prognosis for December and 4 percent below the oil production in December last year.

The following fields had reduced production in December due to technical problems/repair work: Draugen, Heidrun, Norne, Skarv and Skuld.

The oil production in 2013 was according to the NPD’s prognosis from January, and a high production the last months is supporting the prognosis for this year, which indicate an increase in oil production for the first time in many years says Jan Bygdevoll, Director for prognoses at the NPD.

The total petroleum production in 2013 was about 215.2 million standard cubic meters oil equivalents. (MSm3 o.e.), broken down as follows: about 84.9 MSm3 o.e. of oil, about 21.6 MSm3 o.e. of NGL and condensate and about 108.8 MSm3 o.e. of gas for sale. The total oil volume was 4.3 MSm3 o.e., about 5 percent less than in 2012.

Final production figures from November 2013 show an average daily production of about 1.542 million barrels of oil, 0.362 million barrels of NGL and condensate and a total of 9.4 billion Sm3 saleable gas production.

[mappress]

Press Release, January 16, 2014