Norwegian oil output in August below forecast

Oil production in Norway was below expectations during August 2018, according to a report on Tuesday by the Norwegian Petroleum Directorate (NPD).

Preliminary production figures for August 2018 show an average daily production of 1,870,000 barrels of oil, NGL, and condensate, which is a decrease of 42,000 barrels per day compared to July.

Total gas sales were 10.2 billion Sm3 (GSm3), which is a decrease of 0.4 GSM3 from the previous month.

Average daily liquids production in August was: 1,502,000 barrels of oil, 338,000 barrels of NGL, and 30,000 barrels of condensate.

Oil production was approx. 0.2 percent lower than the NPD’s forecast for August, and about 3.5 percent below the forecast this year.

The total petroleum production for the first eight months in 2018 is about 154.5 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 58.2 MSm3 o.e. of oil, about 14.4 MSm3 o.e. of NGL and condensate, and about 81.9 MSm3 o.e. of gas for sale.

The total volume is 5.3 MSm3 o.e. lower than in 2017.