Norway’s oil and gas output sinks in April
While Norway’s gas production in April 2022 is in line with the Norwegian Petroleum Directorate’s predictions, it is still lower than last month. On the other hand, the country’s oil production fell behind predictions by a considerable margin for the second month in a row.
Preliminary production figures for April 2022 show an average daily production of 1 871 000 barrels of oil, NGL and condensate, based on the NPD’s report on Friday.
Total gas sales were 9.8 billion Sm3 (GSm3), which is a decrease of 0.6 GSm3 from the previous month.
Average daily liquids production in April was: 1 660 000 barrels of oil, 203 000 barrels of NGL and 9 000 barrels of condensate.
Oil production in April is 10.6 per cent lower than the NPD’s forecast and 5.4 per cent lower than the forecast so far this year.
The forecasts for gas and NGL have been updated in line with the government’s proposed revised national budget.
Production April 2022
The total petroleum production so far in 2022 is about 77.8 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 33.0 MSm3 o.e. of oil, about 4.1 MSm3 o.e. of NGL and condensate and about 40.7 MSm3 o.e. of gas for sale. The total volume is 0.3 MSm3 o.e. lower than in 2021.
It is worth noting that the country’s Ministry of Petroleum and Energy recently updated its estimate for gas deliveries to a higher level, as high prices and growing demand are expected to boost deliveries from the fields on the Norwegian shelf in 2022.