Norwegian crude production fell 12% in June, amounting to 1.54 million bpd

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The Norwegian Petroleum Directorate said yesterday that the country’s production of crude oil decreased in June by more than expected compared to the previous month, while natural gas production increased, but less than expected.
According to “Reuters”, crude production fell 12 percent, to 1.54 million barrels per day, 4.1 percent below the official forecast, which is in line with the production ceiling set by the Norwegian government at 1.61 million barrels per day.
The shares of total production were distributed over different oil fields on the Norwegian continental shelf.
And the Norwegian Ministry of Oil and Energy said, in a separate statement yesterday, that “the fields that produced less than the share specified for June (June) could add these quantities to their production shares in the second half of the year.”
But crude production rose 45.8 percent year on year, thanks to an increase in the production of the giant Johann Sverdrup oil field, which began production last October.
Daily natural gas production increased 5.9 percent, on a monthly basis, to 279.7 million cubic meters per day in June, 10 percent below official forecasts and its level a year earlier.
Norway is the second largest natural gas supplier to Europe after Russia, and produces about 2 percent of the world’s crude oil.
The Norwegian international energy company, Aquanor, has announced the discovery of a new gas field on the Norwegian continental shelf, in cooperation with its partners early this month. Norwegian media said that the estimated reserves of the new field ranged between three to ten million cubic meters of recoverable oil, according to preliminary estimates.
According to the Norwegian Petroleum Directorate, the drilled well will be closed, given that the partners will decide whether to start production work as part of a comprehensive assessment of the region’s reserves or not.





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