NPD releases September 2018 Production figures

Source: press release, 19 October 2018

NCS production, September 2018
NCS production, September 2018 (illustration: NPD)

The Norwegian Petroleum Directorate (NPD) reports that preliminary production figures for September 2018 show an average daily production of 1,607,000 barrels of oil, NGL and condensate, which is a decrease of 255,000 barrels per day compared to August.

Total gas sales were 9.0 billion Sm(GSm3), which is a decrease of 1.2 GSmfrom the previous month.

Average daily liquids production in September was: 1,302,000 barrels of oil, 275,000 barrels of NGL and 29,000 barrels of condensate.

Oil production for September is about 12% below the NPD’s forecast for the month and about 4.4% below the forecast for 2018. The most important reason why production in September is lower than expected is maintenance shutdown that was not included in the prognosis for several fields.

The forecast used for comparison was prepared for The Shelf in January 2018. In the forecast presented in the national budget this autumn, expected oil production for this year is reduced by approximately 4%.

The total petroleum production for the first nine months in 2018 is about 171,1 million Smoil equivalents (MSmo.e.), broken down as follows: about 64.4 MSmo.e. of oil, about 15.8 MSm3o.e. of NGL and condensate and about 91.0 MSmo.e. of gas for sale.

The total volume is 6.5 MSmo.e. lower than in 2017.