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Norway Sees Decrease in December Production

Source: www.gulfoilandgas.com 1/17/2017, Location: Europe

Preliminary production figures for December 2016 show an average daily production of 2 094 000 barrels of oil, NGL and condensate, which is a decrease of 60 000 barrels per day (approx. 3 percent) compared to November. Total gas sales were 10.9 billion Sm3 (GSm3) which is an increase of 0.2 GSM3 from the previous month.

The total petroleum production in 2016 is about 233.0 million Sm3 oil equivalents (MSm3 o.e.), This is 2.8 MSm3 o.e. higher than in 2015. The oil production increased for the third consecutive year in 2016, and gas production was at the same level as the previous year, which was a record year for production. The high level is in part due to good regularity on the fields, and the fact that various efficiency measures have led to substantial reductions in operating and exploration costs.

Average daily liquids production in December was 1 693 000 barrels of oil, 369 000 barrels of NGL and 32 000 barrels of condensate. The oil production is about 3.5 percent above the oil production in December last year and is about 9 percent above the NPD’s prognosis for December 2016. The oil production is about 5.5 percent above the prognosis this year.

The total petroleum production in 2016 is about 233.0 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 94.1 MSm3 o.e. of oil, about 22.1 MSm3 o.e. of NGL and condensate and about 116.8 MSm3 o.e. of gas for sale. In 2015 the production was about 91.0 MSm3 o.e. of oil, about 22.1 MSm3 o.e. of NGL and condensate and about 117.2 MSm3 o.e. of gas for sale. The total volume in 2016 was 2.8 MSm3 o.e. higher than in 2015.

Final production figures from November 2016 show an average daily production of about 1.757 million barrels of oil, 0.397 million barrels of NGL and condensate and 10.7 billion Sm3 saleable gas..

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