Norwegian oil output falls short of expectations in February

Norwegian oil production during February 2020 fell below predictions made by the Norwegian Petroleum Directorate (NPD), according to the directorate’s report on Thursday.

Preliminary production figures for February 2020 show an average daily production of 2,106,000 barrels of oil, NGL and condensate, which is an increase of 129,000 barrels per day compared to January.

Total gas sales were 10.0 billion Sm3 (GSm3), which is a decrease of 0.5 GSm3 from the previous month.

Average daily liquids production in February was: 1,749,000 barrels of oil, 330,000 barrels of NGL and 27,000 barrels of condensate.

Oil production in February was 0.7 percent lower than the NPD’s forecast, and 3.2 percent below the forecast so far this year. The main reasons that production in February was below forecast were technical problems on some fields.

The total petroleum production for the first two months in 2020 is about 39.9 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 16.2 MSm3 o.e. of oil, about 3.2 MSm3 o.e. of NGL and condensate and about 20.4 MSm3 o.e. of gas for sale.

The total volume is 1.9 MSm3 o.e. higher than in 2019.

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