Norway’s March output brings more oil but less gas

Even though Norway recorded an increase in oil production in all segments in March 2023, the gas production is below the Norwegian Petroleum Directorate’s predictions and the figures seen during the month before, however, it is still higher than it was last year.

According to the NPD’s recent report, preliminary production figures for March 2023 show an average daily production of 2 049 000 barrels of oil, NGL and condensate.

Total gas sales were 10.6 billion Sm3 (GSm3), which is 0.7 (GSm3) more than the previous month.

Average daily liquids production in March was: 1 826 000 barrels of oil, 201 000 barrels of NGL and 23 000 barrels of condensate.

Oil production in March is 0.1 per cent higher than the NPD’s forecast and 1.7 per cent lower than the forecast so far this year.

Production figures March 2023

The total petroleum production so far in 2023 is about 60,4 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 25.6 MSm3 o.e. of oil, about 3.3 MSm3 o.e. of NGL and condensate and about 31.5 MSm3 o.e. of gas for sale. The total volume is 1.3 MSm3 o.e. higher than in 2022.