Norway’s oil and gas production rises in October

Norway’s oil and natural gas output climbed in October both on month and on a yearly basis, but still fell below the forecasted ramp up rate, according to the Norwegian Petroleum Directorate (NPD).

The NPD’s production report for the month, released on Tuesday, showed that crude oil production rose to 1.745 million barrels per day in October, up from an average of 1.64 bpd in September and short of the forecast 1.88 million bpd.

Gas production for October averaged 316.13 million cubic metres per day, up from 303 MMcmd in September, when Norwegian gas output was impacted by maintenance works having taken place at several assets on the continental shelf (NCS).

Gas output still fell well short of the forecast 352.42 MMcmd as Norwegian producers struggle to respond to higher levels of demand from European customers that have resulted from Russian aggression toward Ukraine.

Total gas sales for the month of October came to 9.8 Bcm, climbing up from 9.1 Bcm in September.

Natural gas production for September also falling short of the 323.9 MMcmd that was forecast for that month.