Norwegian oil output in November over 13 pct higher than NPD’s forecast

Norwegian oil production during November 2019 was significantly higher than the Norwegian Petroleum Directorate (NPD) predicted, according to the directorate’s report on Thursday. 

Preliminary production figures for November 2019 show an average daily production of 2 016 000 barrels of oil, NGL and condensate, which is an increase of 235 000 barrels per day compared to October.

Total gas sales were 10.0 billion Sm3 (GSm3), which is an increase of 0.6 GSm3 from the previous month.

Average daily liquids production in November was: 1 711 000 barrels of oil, 277 000 barrels of NGL and 28 000 barrels of condensate.

Oil production in November is 13.2 percent higher than the NPD’s forecast, and 1.9 percent below the forecast so far this year.

The discrepancy between preliminary production (published November 19th) and final production volume in October is due to the fact that the Johan Sverdrup field started production, and unavailable volumes are subtracted (pipeline volumes and minimum stock level).

The total petroleum production for the first eleven months in 2019 is about 195.0 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 73.1 MSm3 o.e. of oil, about 17,5 MSm3 o.e. of NGL and condensate and about 104.4 MSm3 o.e. of gas for sale. The total volume is 14.8 MSm3 o.e. lower than in 2018.

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