Oil production in July beats NPD forecast (Norway)

The Norwegian Petroleum Directorate has informed that the preliminary production figures for July 2014 indicate an average daily production of about 1 935 000 barrels of oil, NGL and condensate.

This is 153 000 barrels per day (about 8 percent) more than in June 2014.

Total gas sales were about 8.0 billion Sm3, which is 0.6 GSm3 more than the previous month.

The average daily liquid production in June was: 1 524 000 barrels of oil, 330 000 barrels of NGL and 81 000 barrels of condensate. The oil production is 2 percent above the NPD’s prognosis for July and 3.5 percent below the oil production in July last year.

The Draugen, Skuld and Valhall fields had reduced production in July due to technical problems.

So far this year the oil production is about 1 percent above the NPD’s prognosis.

The total petroleum production for the first seven months in 2014 is about 125.4 million standard cubic meters oil equivalents. (MSm3 o.e.), broken down as follows: about 50.0 MSm3 o.e. of oil, about 13.4 MSm3 o.e. of NGL and condensate and about 62.0 MSm3 o.e. of gas for sale. The total oil volume is 0.5 MSm3 o.e., about 1.0 percent higher than for the same period in 2013.

Final production figures from June 2014 show an average daily production of about 1.392 million barrels of oil, 0.390 million barrels of NGL and condensate and a total of 7.4 billion Sm3 saleable gas production.