Norway: August oil output exceeds predictions

Norway’s oil production in August 2021 surpassed the Norwegian Petroleum Directorate’s predictions by 3 per cent while the country’s gas output decreased when compared to July.

Preliminary production figures for August 2021 show an average daily production of 2 114 000 barrels of oil, NGL and condensate, according to the NPD’s report on Thursday.

Total gas sales were 9.3 billion Sm3 (GSm3), which is a decrease of 0.3 GSm3 from the previous month.

Production August 2021

Average daily liquids production in August was: 1 812 000 barrels of oil, 292 000 barrels of NGL and 10 000 barrels of condensate.

Oil production in August is 3.0 per cent higher than the NPD’s forecast, and 0.7 per cent higher than the forecast so far this year.

The total petroleum production for the first eights months in 2021 is about 151.9 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 67.5 MSm3 o.e. of oil, about 10.5 MSm3 o.e. of NGL and condensate and about 73.9 MSm3 o.e. of gas for sale. The total volume is 1.8 MSm3 o.e. lower than in 2020.

The state-owned Equinor and its partners received permission to increase gas exports by 1 billion cubic meters (bcm) from Oseberg and Troll offshore fields in Norway for the gas year starting on 1 October to supply the tight European market, the company reported on Monday.