Norway: Oil production in January beats NPD prognosis

The Norwegian Petroleum Directorate, a government agency whose task is to manage the oil and gas resources on the Norwegian Continental Shelf, informed on Friday that oil production in Norway in January 2016 was above the agency’s prognosis for the month. 

According to the agency, preliminary production figures for January 2016 show an average daily production of about 2 068 000 barrels of oil, NGL and condensate.

This is 13 000 barrels per day (about 0.5 percent) more than December 2015. Total gas sales were about 11.1 billion Sm3, which is 0.1 GSm3 less than previous month.

The average daily liquid production in January was: 1 627 000 barrels of oil, 410 000 barrels of NGL and 32 000 barrels of condensate. The oil production is about 0.5 percent above the oil production in December last year.

The oil production is about 2 percent above the NPD’s prognosis for the month.

The total petroleum production in January is about 21.3 million Sm3 oil equivalents (MSm3o.e.), broken down as follows: about  8.0 MSm3 o.e. of oil, about 2.2 MSm3 o.e. of NGL and condensate and about 11.1 MSm3 o.e. of gas for sale. The total volume is 1.4 MSm3o.e. higher than in 2015.

Final production figures from December 2015 show an average daily production of about 1.643 million barrels of oil, 0.412 million barrels of NGL and condensate and a total of 11.2 billion Sm3 saleable gas production.