Norwegian oil output in December exceeds forecast

Norwegian oil production during December 2019 rose nearly 13 percent  above prediction made by the Norwegian Petroleum Directorate (NPD), according to the directorate’s report on Friday.

Preliminary production figures for December 2019 show an average daily production of 2 082 000 barrels of oil, NGL and condensate, which is an increase of 95 000 barrels per day compared to November.

Total gas sales were 10.7 billion Sm3 (GSm3), which is an increase of 0.7 GSm3 from the previous month.

Average daily liquids production in December was: 1 759 000 barrels of oil, 296 000 barrels of NGL and 27 000 barrels of condensate.

Oil production in December is 12.7 percent higher than the NPD’s forecast, and 0.5 percent below the forecast for 2019.

The total petroleum production in 2019 was about 216.0 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 81.8 MSm3 o.e. of oil, about 19,0 MSm3 o.e. of NGL and condensate and about 115.2 MSm3 o.e. of gas for sale. The total volume is 13.6 MSm3 o.e. lower than in 2018.

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