Norway’s gas output nosedives while oil grows

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

According to the NPD’s recent report, preliminary production figures for May 2023 show an average daily production of 1 991 000 barrels of oil, NGL and condensate.

Total gas sales were 8.4 billion Sm3 (GSm3), which is 1.8 (GSm3) less than the previous month.

Average daily liquids production in May was: 1 772 000 barrels of oil, 210 000 barrels of NGL and 9 000 barrels of condensate.

Oil production in May is 1.3 per cent lower than the NPD’s forecast and 0.8 per cent lower than the forecast so far this year.

Production figures May 2023

The total petroleum production so far in 2023 is about 99,0 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 43.0 MSm3 o.e. of oil, about 5.5 MSm3 o.e. of NGL and condensate and about 50.5 MSm3 o.e. of gas for sale. The total volume is 2.2 MSm3 o.e. higher than in 2022.