Norway’s oil & gas output goes up a notch in December
While Norway recorded a slight increase in oil and gas production in December compared to the figures from November 2022, these figures are still below the Norwegian Petroleum Directorate’s predictions. In addition, the oil output is lower than the one recorded last year. However, the gas output is slightly higher than in December 2021.
According to the NPD’s recent report, preliminary production figures for December 2022 show an average daily production of 1 983 000 barrels of oil, NGL and condensate.
Total gas sales were 11.1 billion Sm3 (GSm3), which is an increase of 0.7 (GSm3) from the previous month.
Average daily liquids production in December was: 1 773 000 barrels of oil, 191 000 barrels of NGL and 19 000 barrels of condensate.
Oil production in December is 9.7 per cent lower than the NPD’s forecast and 6.1 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 prognosis for production in the revised national budget.
Production figures December 2022
The total petroleum production in 2022 was about 233,8 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 97.8 MSm3 o.e. of oil, about 12.2 MSm3 o.e. of NGL and condensate and about 123.7 MSm3 o.e. of gas for sale. The total volume was 1.1 MSm3 o.e. higher than in 2021.