Norwegian Production Dips to Lowest 2015 Level

Norwegian Production Dips to Lowest 2015 Level
Norwegian output hit its lowest 2015 level in September, with preliminary figures showing an average daily production of around 1.864 million barrels of oil, NGL and condensate.

The Norwegian Petroleum Directorate revealed that Norwegian output hit its lowest 2015 level in September, with preliminary figures for the month showing an average daily production of around 1.864 million barrels of oil, NGL and condensate.

September’s output figures marked a three month consecutive decrease, following a slight production spike from May to June. The average daily output of oil, NGL and condensate in May was 1.866 million barrels, which was the second lowest figure in 2015, compared to 1.948 million barrels in June, 1.946 million barrels in July and 1.924 million barrels in August. Prior to May’s figures, production levels rose from 1.925 million barrels in February, to 1.935 million barrels in March and 1.963 million barrels in April, which was the highest output level recorded so far in 2015.

Despite production hitting its lowest point in September this year, oil production for the month, which stood at 1.543 million barrels, was 4.8 percent above figures in September 2014 and around 12 percent above the Norwegian Petroleum Directorate’s prognosis for September 2015. In 2014, Norwegian output hit its highest levels for the year in January with 1.948 million barrels of oil, NGL and condensate. The lowest production figure for last year was recorded in May, when Norway produced 1.665 million barrels.

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist. Email Andreas at andreas.exarheas@rigzone.com

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