The Norwegian Petroleum Directorate (NPD) reports that the preliminary production figures for November 2020 show an average daily production of 2,026,000 barrels of oil, NGL and condensate.
Average daily liquids production in November was: 1,725,000 barrels of oil, 290,000 barrels of NGL and 12,000 barrels of condensate.
On 29 April 2020, the Government decided to implement a cut in Norwegian oil production.
The production figures for oil in November include this cut of 134,000 barrels per day in the second half of 2020.
The Norwegian Petroleum Directorate’s oil production forecasts have been updated in the Government’s proposed Revised National Budget for 2020.
This 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 November is equal to the NPD’s forecast, and 1.9% below the forecast so far this year.
The total petroleum production for the first 11 months in 2020 is about 207.9 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 89.4 MSm3 o.e. of oil, about 16.5 MSm3 o.e. of NGL and condensate and about 101.9 MSm3 o.e. of gas for sale.
The total volume is 12.9 MSm3 o.e. higher than in 2019.