News, Oil & Gas

Increased production of oil and gas

Figures for October 2012 indicate an average daily production on the Norwegian Shelf of about 1 805 000 barrels of oil, NGL and condensate. This is 287 000 barrels per day more than in September.

Total gas sales for October  were about 10.0 billion Sm3, which is 3.0 billion Sm3more than the previous month, according to preliminary figures from the Norwegian Petroleum Directorate (NPD) .

The total oil production on the Norwegian shelf has increased since September and is at the same level as in the summer, but 12 per cent below the prognosis for October.

This is mainly due to planned maintenance and technical problems on several fields. Both The Valhall and Hod fields have been closed for the entire month due to preparation in front of production start for a new platform. Ula, Tambar and Oselvar fields have also been closed for the entire month due to hydrocarbon leakage on Ula. In addition, Yme and Skarv should have contributed to the production in October according to the prognosis, but these fields will not contribute to achieving the NPD prognosis for 2012, although production for Skarv is scheduled for December.

The oil production is also about 3.0 percent below the cumulative prognosis this year. Since the prognosis for the remaining year is relatively high, it might be a challenge to meet the oil production target for 2012, comments Jan Bygdevoll, Director Forecasting at the NPD.