Photo: Illustration; Source: NPD; Credit: Morten Berentsen

Norway: Oil production grows in August but gas output falls

Even though Norway recorded a slight increase in gas production in August 2022 compared to the Norwegian Petroleum Directorate’s predictions, this is still lower than the figures from last month. On the other hand, the oil output fell behind the NPD’s predictions but is higher than the figures from July 2022.

Preliminary production figures for August 2022 show an average daily production of 1 998 000 barrels of oil, NGL and condensate, based on the NPD’s report on Wednesday.

Total gas sales were 10.8 billion Sm3 (GSm3), a decrease of 0.1 (GSm3) from the previous month.

Average daily liquids production in July was: 1 774 000 barrels of oil, 205 000 barrels of NGL and 19 000 barrels of condensate.

Oil production in August is 3.1 per cent lower than the NPD’s forecast and 4.7 per cent lower than the forecast so far this year.

The forecasts for gas and NGL have been updated in line with the Governments prognosis for production in the revised national budget.

Production figures August 2022

Source: The Norwegian Petroleum Directorate
Source: The Norwegian Petroleum Directorate

The total petroleum production in 2022 is about 154.7 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 67.4 MSm3 o.e. of oil, about 8.1 MSm3 o.e. of NGL and condensate and about 82.4 MSm3 o.e. of gas for sale. The total volume is 2.6 MSm3 o.e. higher than in 2021.

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