Norway’s January oil output lower than expected

Norwegian oil production during January 2019 was below expected figures, according to Tuesday’s report by the Norwegian Petroleum Directorate (NPD).

Preliminary production figures for January 2019 show an average daily production of 1,822,000 barrels of oil, NGL and condensate, which is a decrease of 30,000 barrels per day compared to December.

Total gas sales were 11.2 billion Sm3 (GSm3), which is an increase of 0.5 GSm3 from the previous month.

Average daily liquids production in January was: 1,460,000 barrels of oil, 333,000 barrels of NGL and 28,000 barrels of condensate. Oil production is approx. 0.5 percent lower than the NPD’s forecast.

The total petroleum production in January 2019 is about 20.2 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 7.2 MSm3 o.e. of oil, about 1.8 MSm3 o.e. of NGL and condensate, and about 11.2 MSm3 o.e. of gas for sale.

It is worth noting that the total volume was 1.0 MSm3 o.e. lower than in 2018.