Norway Records Highest Monthly Output in 5 Years
Norway recorded its largest monthly oil production volume in five years in July, according to preliminary production figures from the Norwegian Petroleum Directorate.
Oil output was 1.72 million barrels, which is the largest figure since March 2011. Norway’s average daily production in July hit 2.13 million barrels of oil, NGL and condensate.
The month’s oil production is ten percent above the oil output in July last year and nine percent above the NPD’s prognosis for July 2016. It is an increase of 322,000 barrels of oil per day, around 18 percent, compared to June.
“The high level of production in July is due to many fields producing above prognosis, and because Goliat is now contributing considerably and is the fourth largest oil producer in July,” said an NPD spokesperson in a company statement.
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