Norwegian oil output in October above forecast

Norwegian oil production during October 2019 rose above expected levels, according to Tuesday’s report by the Norwegian Petroleum Directorate (NPD).

Preliminary production figures for October 2019 show an average daily production of 1 828 000 barrels of oil, NGL and condensate, which is an increase of 264 000 barrels per day compared to September.

Total gas sales were 9.3 billion Sm3 (GSm3), which is an increase of 3.3 GSm3 from the previous month.

Average daily liquids production in October was: 1,519,000 barrels of oil, 279,000 barrels of NGL, and 30,000 barrels of condensate.

Oil production in October is 4.5 percent higher than the NPD’s forecast, and 3.2 percent below the forecast so far this year.

The total petroleum production for the first ten months in 2019 is about 175.5 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 65.1 MSm3 o.e. of oil, about 16,0 MSm3 o.e. of NGL and condensate and about 94.3 MSm3 o.e. of gas for sale. The total volume is 15.1 MSm3 o.e. lower than in 2018.

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