Norwegian Output Dips Sharply Below Forecast in Sept
Norwegian oil and gas production fell significantly below the level forecast in September, the Norwegian Petroleum Directorate (NPD) reported on October 28, citing maintenance work and technical problems at some fields as factors.
Gas output averaged 277.1mn m3/day during the month, which was 10.2% under the level forecast. It was down 3.3% month on month but surged by 40.3% year on year. Liquids production came to 1.77mn barrels/day last month, 13.6% below forecast and down 12.4% m/m, but up 12.8% yr/yr.
Gas extraction is expected to see a steady rise over the rest of the year, reaching 336.4mn m3 in December, while liquids output will remain relatively unchanged. Production rates were affected this month by the closure of six fields due to strike action. The fields, operated by Equinor, Neptune Energy and Wintershall Dea, have a combined capacity of 330,000 barrels of oil equivalent/day, or 8% of Norway's total hydrocarbon supply.
There were other unpredicted events too impacting production. One was the fire at the Hammerfest LNG terminal, which is the only delivery point for gas from the Snohvit fields. It could be a year before that plant is back in operation again.