Norway’s oil production beats October forecast, still lags full-year projections

11/19/2019

OSLO – The Norwegian Petroleum Directorate’s preliminary production figures for October 2019 show an average daily production of 1.82 MMbblof oil, NGL and condensate, an increase of 264,000 bpd compared to September.

October 2019 gas production
October 2019 gas production

Total gas sales were 9.3 billion Sm³ (GSm³), which is an increase of 3.3 GSm³ from the previous month.

October 2019 liquids production
October 2019 liquids production

Average daily liquids production in October was: 1.5 MMbbl of oil, 279,000 bbl of NGL and 30,000 bbl of condensate.

October 2019 oil production
October 2019 oil production

Oil production in October is 4.5 percent higher than the NPD’s forecast, and 3.2 percent below the forecast so far this year.

The total petroleum production for the first ten months in 2019 is about 175.5 MM Sm³ oil equivalents (MMSm³ o.e.), broken down as follows: about 65.1 MMSm³ o.e. of oil, about 16.0 MMSm³ o.e. of NGL and condensate and about 94.3 MMSm³ o.e. of gas for sale.

The total volume is 15.1 MMSm³ o.e. lower than in 2018.

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