Norway ramps up oil output in September but prognosis misses the mark

Norway’s oil production in September this year was above the one produced in the country in the same period last year but below prognosis due to maintenance works on some fields, according to the Norwegian Petroleum Directorate (NPD). 

The government agency reported on Thursday that preliminary production figures for September 2017 show an average daily production of 1 772 000 barrels of oil, NGL and condensate, which is a decrease of 171 000 barrels per day compared to August.

Total gas sales were 9.6 billion Sm3 (GSm3), which is a decrease of 0.7 GSM3 from the previous month.

Average daily liquids production in September was: 1 439 000 barrels of oil, 301 000 barrels of NGL and 31 000 barrels of condensate. The oil production is about 3.6 percent above the oil production in September last year and is about 11.0 percent below the NPD’s prognosis for September 2017. The oil production is about 0.5 percent below the prognosis so far this year.

The oil production was below the forecast in September due to maintenance work on some fields.

The total petroleum production for the first nine months in 2017 is about 177.8 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 70.0 MSm3 o.e. of oil, about 16.5 MSm3 o.e. of NGL and condensate and about 91.3 MSm3 o.e. of gas for sale. The total volume is 8.1 MSm3 o.e. higher than in 2016.

Final production figures from August 2017 show an average daily production of about 1.560 million barrels of oil, 0.382 million barrels of NGL and condensate and a total of 10.3 billion Sm3 saleable gas production.