Norway October oil output falls short on lower contribution from Goliat, Gina Krog fields

Norwegian oil production in October fell short of expectations on lower production from Statoil’s Gina Krog field, and from Eni’s Goliat field in the Barent Sea. However, production was higher compared to September 2017.

According to the Norwegian Petroleum Directorate, preliminary production figures for October 2017 show an average daily production of 1 901 000 barrels of oil, NGL and condensate, which is an increase of 141 000 barrels per day compared to September.

Total gas sales were 10.9 billion Sm3 (GSm3), which is an increase of 1.5 GSM3 from the previous month. Average daily liquids production in October was: 1 540 000 barrels of oil, 330 000 barrels of NGL and 31 000 barrels of condensate.

Oil production is approx. 4.5 percent lower than the NPD’s forecast, and about 0.9 percent below the forecast so far this year.

The main reasons that production in October was below forecast is that Goliat was closed down most of the month and production from Gina Krog was less than expected, one of the reasons being loading problems due to bad weather, NPD said.

The increase in oil production since September is a result of increased production on several fields, with Snorre and Ivar Aasen having the largest increases.

The total petroleum production for the first ten months in 2017 is about 197.9 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 77.6 MSm3 o.e. of oil, about 18.2 MSm3 o.e. of NGL and condensate and about 102.1 MSm3 o.e. of gas for sale. The total volume is 7.1 MSm3 o.e. higher than in 2016.

Final production figures from September 2017 show an average daily production of about 1.445 million barrels of oil, 0.316 million barrels of NGL and condensate and a total of 9.4 billion Sm3 saleable gas production.