THE LARGEST NORWEGIAN OIL
According to NPD, preliminary production figures for July 2016 show an average daily production of 2 136 000 barrels of oil, NGL and condensate.
Oil Production was 1 728 000 barrels, and is the largest monthly oil production volume in five years (March 2011). Total gas sales were 9.1 billion Sm3 (GSm3), which is an increase of 0.9 GSM3 from the previous month.
Average daily liquids production in July was: 1 728 000 barrels of oil, 375 000 barrels of NGL and 33 000 barrels of condensate.
The oil production is 10 percent above the oil production in July last year and is nine percent above the NPD's prognosis for July 2016. It is an increase of 322 000 barrels of oil per day (about 18 percent) compared to June 2016. It is usual with somewhat of a decrease in production in June because of some fields being closed for maintenance.
The high level of production in July is due to many fields producing above prognosis, and because Goliat is now contributing considerably and is the fourth largest oil producer in July.
The total petroleum production for the first seven months in 2016 is about 138.1 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 54.4 MSm3 o.e. of oil, about 13.6 MSm3 o.e. of NGL and condensate and about 70.1 MSm3 o.e. of gas for sale. The total volume is 7.3 MSm3 o.e. higher than in 2015.
Final production figures from June 2016 show an average daily production of about 1.449 million barrels of oil, 0.365 million barrels of NGL and condensate and a total of 8.2 billion Sm3 saleable gas production.
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PLATTS - National Australia Bank announced Thursday it will no longer provide financing for new thermal coal projects.
Petrobras and ExxonMobil signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities.
ExxonMobil Development Africa B.V. has acquired a 25 percent indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations.
U.S. Rig Count is down 1 rig from last week to 930, with oil rigs down 4 to 747, gas rigs up 3 to 183, and miscellaneous rigs unchanged. Canada Rig Count is up 19 rigs from last week to 238, with oil rigs up 22 to 134 and gas rigs down 3 to 104.