Norway’s gas output continues its downward plunge while oil goes up a notch

Norway saw a slight rise in oil production in August 2023 compared to the Norwegian Petroleum Directorate’s predictions and the volume seen last year, however, this is still lower than the figures from July 2023. On the other hand, the gas output has fallen below the level recorded during the month before, last year, and the NPD’s forecast.

According to the NPD’s recent report, preliminary production figures for August 2023 show an average daily production of 2 006 000 barrels of oil, NGL, and condensate.

Total gas sales were 9.7 billion Sm3 (GSm3), which is 0.3 (GSm3) lower than the previous month.

Average daily liquids production in August was: 1 789 000 barrels of oil, 201 000 barrels of NGL, and 16 000 barrels of condensate.

Oil production in August is 1.0% higher than the NPD’s forecast and 0.2% lower than the forecast so far this year.

Production figures August 2023

The total petroleum production so far in 2023 is about 156.0 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 69.6 MSm3 o.e. of oil, about 8.6 MSm3 o.e. of NGL and condensate and about 77.8 MSm3 o.e. of gas for sale. The total volume is 1.1 MSm3 o.e. higher than in 2022.