The Norwegian Petroleum Directorate (NPD) reports that preliminary production figures for December 2020 show an average daily production of 2,135,000 barrels of oil, natural gas liquids (NGL) and condensate.
Average daily liquids production in December was: 1,811,000 barrels of oil, 310,000 barrels of NGL and 13,000 barrels of condensate.
On 29 April 2020, the Government decided to implement a cut in Norwegian oil production.
The production figures for oil in December include this cut of 134,000 barrels per day in the second half of 2020.
The NPD’s oil production forecasts have been updated in the Government’s proposed Revised National Budget for 2020.
This was presented on 12 May 2020. 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 December is 5.0% higher than the NPD’s forecast, and 1.3% below the forecast this year.
The total petroleum production in 2020 is about 228.8 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 98.4 MSm3 o.e. of oil, about 18.1 MSm3 o.e. of NGL and condensate and about 112.3 MSm3 o.e. of gas for sale.
The total volume is 12.9 MSm3 o.e. higher than in 2019.