Norway’s offshore production beats July forecast, still down for the year

8/16/2019

OSLO - The Norwegian Petroleum Directorate’s preliminary production figures for July 2019 show an average daily production of 1,799,000 bbl oil, NGL and condensate, which is an increase of 402,000 bpd compared to June. Total gas sales were 9.5 billion Sm3 (GSm3), which is an increase of 0.1 GSm3 from the previous month.

Norwegian oil production 2019. Source: Norwegian Petroleum Directorate
Norwegian oil production 2019. Source: Norwegian Petroleum Directorate

Average daily liquids production in July was: 1,447,000 barrels of oil, 326,000 barrels of NGL and 25,000 barrels of condensate. Oil production in July is 2% higher than the NPD’s forecast, and 2.8% below the forecast so far this year.

The total petroleum production for the first seven months in 2019 is about 127.8 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 45.1 MSm3 o.e. of oil, about 11,8 MSm3 o.e. of NGL and condensate and about 70.9 MSm3 o.e. of gas for sale. The total volume is 7.0 MSm3 o.e. lower than in 2018.

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