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Norway Sees Decrease in August Oil Production

Source: www.gulfoilandgas.com 9/15/2017, Location: Europe

Preliminary production figures for August 2017 show an average daily production of 1 918 000 barrels of oil, NGL and condensate, which is a decrease of 41 000 barrels per day compared to July. Total gas sales were 10.4 billion Sm3 (GSm3), which is a decrease of 0.1 GSM3 from the previous month.

Average daily liquids production in August was: 1 548 000 barrels of oil, 340 000 barrels of NGL and 30 000 barrels of condensate. The oil production is about 1.4 percent below the oil production in August last year and is about 1.6 percent below the NPDís prognosis for August 2017. The oil production is about 0.5 percent above the prognosis so far this year. Production remains at the same level as in July. Gas production is also in August above the forecast.

The total petroleum production for the first eight months in 2017 is about 159.6 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 63.0 MSm3 o.e. of oil, about 14.9 MSm3 o.e. of NGL and condensate and about 81.7 MSm3 o.e. of gas for sale. The total volume is 4.0 MSm3 o.e. higher than in 2016.

Final production figures from July 2017 show an average daily production of about 1.598 million barrels of oil, 0.361 million barrels of NGL and condensate and a total of 10.5 billion Sm3 saleable gas production.

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