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2018-05-16 11:50:00

NORWAY'S OIL PRODUCTION DOWN 34 TBD TO 1.868 MBD

NORWAY'S OIL PRODUCTION DOWN 34 TBD TO 1.868 MBD

NPD - Preliminary production figures for April 2018 show an average daily production of 1 868 000 barrels of oil, NGL and condensate, which is a decrease of 34 000 barrels per day compared to March.

Total gas sales were 10.1 billion Sm3 (GSm3), which is a decrease of 1.0 GSM3 from the previous month.

Average daily liquids production in April was: 1 513 000 barrels of oil, 325 000 barrels of NGL and 31 000 barrels of condensate.

Oil production is approx. 4 percent lower than the NPD's forecast, and about 3.0 percent below the forecast this year.

The main reasons that production in April was below forecast is maintenance work and minor technical problems on some fields.

Production April 2018

 

Oil production 2018

 

Liquid production 2018

 

Gas production 2018

 

The total petroleum production for the first four months in 2018 is about 79.5 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 29.7 MSm3 o.e. of oil, about 7.3 MSm3 o.e. of NGL and condensate and about 42.5 MSm3 o.e. of gas for sale.

The total volume is 3.5 MSm3 o.e. lower than in 2017.

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Earlier:

 NORWAY'S PRODUCTION 1.9 MBD
2018, April, 20, 09:05:00

NORWAY'S PRODUCTION 1.9 MBD

NPD - Preliminary production figures for March 2018 show an average daily production of 1 901 000 barrels of oil, NGL and condensate, which is a decrease of 46 000 barrels per day compared to February.

 NORWAY'S RENEWABLE INVESTMENT
2018, April, 9, 11:10:00

NORWAY'S RENEWABLE INVESTMENT

REUTERS - Norway’s $1 trillion sovereign wealth fund should be allowed to invest in unlisted renewable projects such as solar parks and wind farms, the ruling Conservative party voted on Saturday.

 NORWAY'S OIL THREAT
2018, March, 28, 10:50:00

NORWAY'S OIL THREAT

BLOOMBERG - The government has paid out 109 billion kroner ($14 billion) since 2005 to explorers such as Lundin Petroleum AB and Repsol SA. It helped attract more companies to Norway, nearly doubling the pace of exploration and leading to key discoveries such as the multi-billion-barrel Johan Sverdrup field.

 NORWAY'S OIL PRODUCTION 1.944 MBD
2018, March, 23, 08:05:00

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NPD - Preliminary production figures for February 2018 show an average daily production of 1 944 000 barrels of oil, NGL and condensate, which is a decrease of 83 000 barrels per day compared to January.

 NORWAY'S PETROLEUM RESOURCES: 15.6 BLN M3
2018, March, 4, 11:10:00

NORWAY'S PETROLEUM RESOURCES: 15.6 BLN M3

NPD - The Norwegian Petroleum Directorate’s (NPD’s) estimate for total proven and unproven petroleum resources on the Norwegian continental shelf is about 15.6 billion standard cubic metres of oil equivalents.

 NORWAY DEFENDS OIL
2018, February, 12, 07:10:00

NORWAY DEFENDS OIL

REUTERS - “The Ministry maintains that the Norwegian rules on reimbursement of exploration costs and interest on carry forward of losses ... do not constitute state aid under Article 61 of the EEA Agreement, and are therefore in compliance with the EEA (European Economic Area) law,” the ministry said in a letter.

 

NORWAY'S OIL PROBLEMS
2018, January, 3, 15:35:00

NORWAY'S OIL PROBLEMS

BLOOMBERG - Norway’s oil production has been halved since a 2000 peak. While natural-gas output has surged, total production is forecast to fall again in the middle of the next decade. A flurry of investment decisions at the end of last year hides a painful truth: after Statoil’s $6 billion Johan Castberg oil field starts production in the Barents in 2022, the project pipeline is scant.

Tags: NORWAY, OIL, GAS, PRODUCTION