Stable Production on the Norwegian Shelf

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Production of oil and gas from the Norwegian continental shelf is stable. During the month of May 21.9 million standard cubic meters of oil equivalents (Sm3 o.e.) were produced. This is 0.8 million Sm3 o.e. higher than during May, 2003. The production in May consists of: oil production approximately 14.1 million Sm3 o.e., marketable gas approximately 6.1 million Sm3 o.e. and 1.8 million Sm3 o.e. NGL and condensate.

The production of stabilized crude is still on the plateau that has existed from 1995/96. During May the average daily production of crude was 2.9 million barrels per day.

So far this year the total production is about 114.2 million Sm3 o.e. This is 2 million Sm3 o.e. more than in the same period last year. During this time frame, approximately 70.1 million Sm3 oil has been produced, only 1 percent lower than the NPD prediction for the same period.

Preliminary production figures show an average daily production of about 2.88 million barrels oil for June 2004. Final figures will be published in the beginning of August 2004.
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Brent Crude Oil : $51.78/BBL 0.77%
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Natural Gas : $2.99/MMBtu 4.77%
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