Even though Norway saw a slight increase in oil and gas production in October compared to the figures from September 2022, these figures are still below the Norwegian Petroleum Directorate’s predictions. In addition, the oil output is lower than the one recorded last year.
Preliminary production figures for October 2022 show an average daily production of 1 950 000 barrels of oil, NGL and condensate, based on the NPD’s report.
Total gas sales were 10.8 billion Sm3 (GSm3), which is an increase of 1.7 (GSm3) from the previous month .
Average daily liquids production in October was 1 745 000 barrels of oil, 187 000 barrels of NGL and 19 000 barrels of condensate.
Oil production in October is 7.3 per cent lower than the NPD’s forecast and 5.4 per cent lower than the forecast for this year. The forecasts for gas and NGL have been updated in line with the government’s prognosis for production in the revised national budget.
Production figures October 2022
The total petroleum production so far in 2022 is about 193.0 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 80.7 MSm3 o.e. of oil, about 10.1 MSm3 o.e. of NGL and condensate and about 102.2 MSm3 o.e. of gas for sale. The total volume is 1.5 MSm3 o.e. higher than in 2021.
————————————————————————————————————— This article was updated on 25 November 2022, after NPD made an adjustment to the preliminary gas-production figures for October due to missing numbers in the basis for calculation.