Norwegian oil output in January falls below forecast

Norwegian oil production during January 2020 dropped around 6.6 percent below predictions made by the Norwegian Petroleum Directorate (NPD), according to the directorate’s report on Wednesday.

Illustration; Oseberg field center; Source: Equinor

Preliminary production figures for January 2020 show an average daily production of 1,963,000 barrels of oil, NGL and condensate, which is a decrease of 111,000 barrels per day compared to December 2019.

Total gas sales were 10.4 billion Sm3 (GSm3), which is a decrease of 0.4 GSm3 from the previous month.

Average daily liquids production in January was: 1,636,000 barrels of oil, 300,000 barrels of NGL and 27,000 barrels of condensate.

Source: NPD

Oil production in January was approximately 6.6 percent lower than the NPD’s forecast due to technical problems and maintenance work on some fields.

The total petroleum production in January 2020 is about 20.1 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 8.1 MSm3 o.e. of oil, about 1.6 MSm3 o.e. of NGL and condensate and about 10.4 MSm3 o.e. of gas for sale. The total volume is equal to January 2019.

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