Norway’s February oil output drops below expectations

Norwegian oil production during February 2019 was below expected figures due to technical problems on some fields, according to Friday’s report by the Norwegian Petroleum Directorate (NPD).

Preliminary production figures for February 2019 show an average daily production of 1,745,000 barrels of oil, NGL and condensate, which is a decrease of 75,000 barrels per day compared to January.

Total gas sales were 10.2 billion Sm3 (GSm3), which is a decrease of 0.9 GSm3 from the previous month.

Average daily liquids production in February was: 1,388,000 barrels of oil, 328,000 barrels of NGL, and 30,000 barrels of condensate.

Oil production in February is 3.6 percent lower than the NPD’s forecast, and about 2.0 percent below the forecast so far this year.

NPD said that the main reasons production in February fell below forecast were technical problems on some fields.

The total petroleum production for the first two months in 2019 is about 38.0 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 13.4 MSm3 o.e. of oil, about 3.4 MSm3 o.e. of NGL and condensate, and about 21.3 MSm3 o.e. of gas for sale. The total volume is 1.8 MSm3 o.e. lower than in 2018.