Norway’s oil & gas output takes a downturn
While Norway recorded a slight rise in oil production in February 2023 compared to the figures from January 2023, the oil and gas figures are still below the ones recorded in the same period in 2022 and the Norwegian Petroleum Directorate’s predictions. In addition, the gas output is below the one seen during the month before.
According to the NPD’s recent report, preliminary production figures for February 2023 show an average daily production of 1 994 000 barrels of oil, NGL and condensate.
Total gas sales were 9.9 billion Sm3 (GSm3), which is 1.2 (GSm3) less than the previous month.
Average daily liquids production in February was: 1 776 000 barrels of oil, 194 000 barrels of NGL and 24 000 barrels of condensate.
Oil production in February is 2.8 per cent lower than the NPD’s forecast and 2.5 per cent lower than the forecast so far this year.
Production figures February 2023
The total petroleum production so far in 2023 is about 39,7 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 16.6 MSm3 o.e. of oil, about 2.1 MSm3 o.e. of NGL and condensate and about 21.0 MSm3 o.e. of gas for sale. The total volume is 0.7 MSm3 o.e. higher than in 2022.