Norway: Oil production above NPD’s prognosis

The Norwegian Petroleum Directorate has announced preliminary production figures for May 2014 which indicate an average daily production of about 1 665 000 barrels of oil, NGL and condensate.

This is 282 000 barrels per day (about 14 percent) less than in April 2014. Total gas sales were about 8.2 billion Sm3, which is 0.8 GSm3 less than the previous month.

The average daily liquid production in May was: 1 321 000 barrels of oil, 290 000 barrels of NGL and 55 000 barrels of condensate. The oil production is 5 percent above the NPD’s prognosis for May and 13 percent below the oil production in May last year.

The Brage, Grane, Heidrun, Oseberg and Veslefrikk fields had reduced production in May due to planned maintenance work.

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

The total petroleum production for the first five months in 2014 is about 92.1 million standard cubic meters oil equivalents. (MSm3 o.e.), broken down as follows: about 35.9 MSm3 o.e. of oil, about 9.5 MSm3 o.e. of NGL and condensate and about 46.7 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 April 2014 show an average daily production of about 1.539 million barrels of oil, 0.408 million barrels of NGL and condensate and a total of 9.0 billion Sm3 saleable gas production.