Norway: February oil production in line with NPD forecast

The Norwegian Petroleum Directorate has announced preliminary production figures for February 2014. The figures indicate an average daily production of about 1 931 000 barrels of oil, NGL and condensate.

This is 34 000 barrels per day (about 2 percent) less than in January 2014. Total gas sales were about 9.3 billion Sm3, which is 0.6 GSm3 less than the previous month.

The average daily liquid production in February was: 1 546 000 barrels of oil, 311 000 barrels of NGL and 75 000 barrels of condensate. The oil production is equal with the NPD’s prognosis for February and 7 percent above the oil production in February last year.

The following fields had reduced production in February due to technical problems/repair work: Draugen, Gullfaks, Skirne, Visund and Volve.

So far this year the oil production is on level with the NPD’s prognosis.

The total petroleum production for the first two months in 2014 is about 37.4 million standard cubic meters oil equivalents. (MSm3 o.e.), broken down as follows: about 14.6 MSm3 o.e. of oil, about 3.7 MSm3 o.e. of NGL and condensate and about 19.1 MSm3 o.e. of gas for sale. The total oil volume is 0.9 MSm3 o.e., about 6 percent higher than for the same period in 2013.

Final production figures from January 2014 show an average daily production of about 1.562 million barrels of oil, 0.404 million barrels of NGL and condensate and a total of 9.9 billion Sm3 saleable gas production.

[mappress]

Press Release, March 13, 2014