The Norwegian Petroleum Directorate’s (NPD’s) preliminary production figures for June 2020 show an average daily production of 1,857,000 barrels of oil, NGL and condensate.
Average daily liquids production in June was 1,543,000 barrels of oil, 298,000 barrels of NGL and 17,000 barrels of condensate.
On 29 April 2020, the Government decided to implement a cut in Norwegian oil production. The production figures for oil in June include this cut of 250,000 barrels per day.
The Norwegian Petroleum Directorate’s oil production forecasts have been updated in the Government’s proposed Revised National Budget for 2020, which was presented on 12 May. The update takes the authorities’ oil production regulation into account, as well as delayed start-up of fields under development and oil production in the first quarter.
Oil production in June is 4.1% under the limit set in connection with the production adjustment for June.
The total petroleum production for the first 6 months in 2020 is about 115.2 million standard cubic metres (Sm3) oil equivalents (o.e.), broken down as follows: about 49.1 MSm3 o.e. of oil, about 9.4 MSm3 o.e. of NGL and condensate and about 56.7 MSm3 o.e. of gas for sale.
The total volume is 5.7 MSm3 o.e. higher than in 2019.