Norway sees slightly higher oil & gas output in July

Even though Norway saw a slight increase in oil and gas production in July compared to the figures from June 2022, the oil output is still below the Norwegian Petroleum Directorate’s predictions. On the other hand, the gas output continues its small upward trend.

Preliminary production figures for July 2022 show an average daily production of 1 876 000 barrels of oil, NGL and condensate, based on the NPD’s report on Monday.

Total gas sales were 10.9 billion Sm³ (GSm³), which is an increase of 0.9 (GSm³) from the previous month.

Average daily liquids production in July was: 1 646 000 barrels of oil, 213 000 barrels of NGL and 17 000 barrels of condensate.

Oil production in July is 10.9 per cent lower than the NPD’s forecast and 5.0 per cent lower than the forecast so far this year.

The forecasts for gas and NGL have been updated in line with the Governments prognosis for production in the revised national budget

Production July 2022

The total petroleum production so far in 2022 is about 134.2 million Sm³ oil equivalents (MSm³ o.e.), broken down as follows: about 55.5 MSm³ o.e. of oil, about 7.0 MSm³ o.e. of NGL and condensate and about 71.7 MSm³ o.e. of gas for sale. The total volume is 2.1 MSm³ o.e. higher than in 2021.