Norway’s oil output in June below forecast over technical issues on fields

Troll platform offshore Norway. Source: Equinor; Credit – Øyvind Hagen

Oil production in Norway was below forecast during June 2018 due to technical issues on some fields, according to a report on Wednesday by the Norwegian Petroleum Directorate (NPD).

Troll platform offshore Norway. Source: Equinor; Credit - Øyvind Hagen

Preliminary production figures for June 2018 show an average daily production of 1 747 000 barrels of oil, NGL and condensate, which is an increase of 88 000 barrels per day compared to May.

Total gas sales were 9.3 billion Sm3 (GSm3), which is a decrease of 0.4 GSM3 from the previous month.

Average daily liquids production in June was: 1 480 000 barrels of oil, 237 000 barrels of NGL and 30 000 barrels of condensate.

Oil production is approx. 3 percent lower than the NPD’s forecast, and about 4 percent below the forecast this year.

The main reasons that production in June was below forecast is technical problems on some fields, the petroleum directorate explained.

The total petroleum production for the first six months in 2018 is about 114.9 million Sm3oil equivalents (MSm3 o.e.), broken down as follows: about 43.2 MSm3 o.e. of oil, about 10.2 MSm3 o.e. of NGL and condensate and about 61.5 MSm3 o.e. of gas for sale.

The total volume is 4.4 MSm3 o.e. lower than in 2017.