In its monthly preliminary oil output figures for October, the Norwegian Petroleum Directorate informed of an average daily production of 1,828,000 barrels of oil, NGL and condensate. This represents an increase of 264,000 barrels per day compared to September.
Total gas sales were 9.3 billion Sm3 (GSm3), which is an increase of 3.3 GSm3 from the previous month.
Average daily liquids production in October was: 1,519,000 barrels of oil, 279,000 barrels of NGL and 30,000 barrels of condensate.
Oil production in October is 4.5% higher than the NPD’s forecast, and 3.2% below the forecast so far this year.
The total petroleum production for the first ten months in 2019 is about 175.5 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 65.1 MSm3 o.e. of oil, about 16,0 MSm3 o.e. of NGL and condensate and about 94.3 MSm3 o.e. of gas for sale.
The total volume is 15.1 MSm3 o.e. lower than in 2018.
Norway is playing an active role in the oil sector as more Norwegian oil from Johan Sverdrup is arriving in Asia, being a challenge to similar crudes coming from Africa and South America.
Johan Sverdrup, which pumped its first oil on October 23, could jeopardise exports of its rival grades to the world’s top crude-consuming region, in the wake of the approaching 2020 sulphur cap, which surges demand of low-sulphur oil and of the attacks on Saudi Arabia and US sanctions on Iran and Venezuela., according to Bloomberg.