Norway: March oil output dips below NPD predictions

Norway’s oil production in March 2021 was less than one per cent below predictions made by the Norwegian Petroleum Directorate (NPD).

Preliminary production figures in Norway for March 2021 show an average daily production of 2,094,000 barrels of oil, NGL, and condensate.

NPD said on Tuesday that total gas sales were 9.8 billion Sm3 (GSm3), which is an increase of 0.8 GSm3 from the previous month.

Average daily liquids production in March was: 1 773 000 barrels of oil, 309 000 barrels of NGL, and 12 000 barrels of condensate.

Oil production in March is 0.7 per cent lower than the NPD’s forecast, and 0.2 per cent lower than the forecast so far this year.

The total petroleum production in Norway for the first three months in 2021 is about 59.2 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 25.6 MSm3 o.e. of oil, about 4.5 MSm3 o.e. of NGL and condensate and about 29.0 MSm3 o.e. of gas for sale. The total volume is 1.5 MSm3 o.e. lower than in 2020.