NORWAY'S PETROLEUM PRODUCTION UP TO 93 TBD
NPD - Preliminary production figures for July 2017 show an average daily production of 2 000 000 barrels of oil, NGL and condensate, which is an increase of 93 000 barrels per day compared to June.
Total gas sales were 10.6 billion Sm3 (GSm3), which is an increase of 2.0 GSM3 from the previous month and is higher than ever for the month of July.
Average daily liquids production in July was: 1 622 000 barrels of oil, 346 000 barrels of NGL and 32 000 barrels of condensate. The oil production is about 7.0 percent below the oil production in July last year and is about 0.7 percent below the NPD's prognosis for July 2017. The oil production is about 1.2 percent above the prognosis so far this year.
The total petroleum production for the first seven months in 2017 is about 140.1 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 55.5 MSm3 o.e. of oil, about 13.1 MSm3 o.e. of NGL and condensate and about 71.5 MSm3 o.e. of gas for sale. The total volume is 2.1 MSm3 o.e. higher than in 2016.
Final production figures from June 2017 show an average daily production of about 1.570 million barrels of oil, 0.337 million barrels of NGL and condensate and a total of 8.6 billion Sm3 saleable gas production.
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Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day.
OGJ - Maersk Drilling and Aker BP announced a drilling rig alliance based on a tripartite collaboration model that also includes service provider Halliburton Co.
REUTERS - Brent crude futures LCOc1, the international benchmark for oil prices, were at $62.56 per barrel at 0439 GMT, down 16 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $56.59 a barrel, up 4 cents, or 0.1 percent, from their last settlement.
Rosneft as a member of Sakhalin-1 Consortium successfully completed drilling of the world's longest well from Orlan platform at Chaivo field in the Sea of Okhotsk. The length of the well with horizontal completion is 15000 m which currently is a world record. This is a supercomplex well with DDI (Directional drilling index) of 8.0 and 14,129 m stepout.