Photo: Illustration; Source: NPD

Norway: May oil output above NPD predictions

Norway’s oil production in May 2021 was four per cent above predictions made by the Norwegian Petroleum Directorate (NPD).

Preliminary production figures for May 2021 show an average daily production of 1,860,000 barrels of oil, NGL and condensate.

Total gas sales were 8.7 billion Sm3 (GSm3), which is a decrease of 0.7 GSm3 from the previous month.

Average daily liquids production in May was: 1,654,000 barrels of oil, 195,000 barrels of NGL, and 11,000 barrels of condensate.

Oil production in May is 4.0 per cent higher than the NPD’s forecast, and 1.2 per cent higher than the forecast so far this year.

Source: NPD

The total petroleum production for the first five months in 2021 is about 96.0 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 41.9 MSm3 o.e. of oil, about 6.9 MSm3 o.e. of NGL and condensate and about 47.2 MSm3 o.e. of gas for sale. The total volume is 2.0 MSm3 o.e. lower than in 2020.