Even though Norway saw a slight increase in oil and gas production in October compared to the figures from September 2022, these figures are still below the Norwegian Petroleum Directorate’s predictions. In addition, they are lower than the ones recorded last year.
Preliminary production figures for October 2022 show an average daily production of 1 913 000 barrels of oil, NGL and condensate, based on the NPD’s report on Tuesday.
Total gas sales were 9.8 billion Sm3 (GSm3), an increase of 0.7 (GSm3) from the previous month.
Average daily liquids production in October was: 1 745 000 barrels of oil, 187 000 barrels of NGL and 19 000 barrels of condensate.
Oil production in October is 7.3 per cent lower than the NPD’s forecast and 5.4 per cent lower than the forecast so far this year.
The forecasts for gas and NGL have been updated in line with the government’s prognosis for production in the revised national budget.
Production figures October 2022
The total petroleum production in 2022 is about 192.06 million Sm3 oil equivalents (MSm3 o.e.) so far, broken down as follows: about 80.7 MSm3 o.e. of oil, about 10.1 MSm3 o.e. of NGL and condensate and about 101.2 MSm3 o.e. of gas for sale. The total volume is 0.6 MSm3 o.e. higher than in 2021.