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Higher oil production than expected

gas fieldsOil fields.Photo: pixabay.com

Oil production fell from November to December, but is still well above the previous year’s figures and forecasts for the Oil Directorate (NPD).

Preliminary production figures for December 2016 show an average daily production of 2.094 million barrels of oil, NGL (natural gas liquids) and condensate.
This is a decrease of 60,000 barrels per day from November, said the agency.
Liquids production is distributed over 1.693 million barrels, 369,000 barrels of NGLs and 32,000 barrels of condensate on average per day. Oil production is around 3.5 percent of output in December last year and about 9 percent of NPD’s forecast for December 2016.
Total gas sales in December were 10.9 billion standard cubic meters (GSm3), which is 0.2 GSm3 more than in the previous month.
Source: NTB scanpix / Norway Today

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