Norway’s oil production in February 2017 was slightly lower when compared to the same period in 2016 but still above the prognosis for the month, according to a report by the Norwegian Petroleum Directorate (NPD).
Preliminary production figures for February 2017 show an average daily production of 2 010 000 barrels of oil, NGL and condensate, which is a decrease of 25 000 barrels per day (approx. 1 percent) compared to January .
Total gas sales were 10.2 billion Sm3 (GSm3), which is a decrease of 1.3 GSM3 from the previous month.
Average daily liquids production in February was: 1 620 000 barrels of oil, 360 000 barrels of NGL and 30 000 barrels of condensate. The oil production is about 0.4 percent below the oil production in February last year and is about 0.8 percent above the NPD’s prognosis for February 2017. The oil production is about 0.5 percent above the prognosis so far this year.
The total petroleum production for the first two months in 2017 is about 41.0 million Sm3oil equivalents (MSm3 o.e.), broken down as follows: about 15.5 MSm3 o.e. of oil, about 3.8 MSm3 o.e. of NGL and condensate and about 21.7 MSm3 o.e. of gas for sale. The total volume is 0.3 MSm3 o.e. lower than in 2016.
Final production figures from January 2017 show an average daily production of about 1.623 million barrels of oil, 0.413 million barrels of NGL and condensate and a total of 11.5 billion Sm3 saleable gas production.