Norwegian oil and gas liquids production set to increase

Aug 12, 1999 02:00 AM

Norwegian oil/NGL output in the second half of 1999 is set to increase as a number of new and recently commissioned developments increase output.
According to Wood Mackenzie's NW Europe Production Review, decreased production from most of the large and mature fields in the central and northern North Sea will to offset this increase, but nevertheless, average annual production is expected to average at 3.20 mm bpd, up 60.000 barrels from the 3.14 mm bpd produced in 1998.
The first half of 1999 has shown a considerably lower production than previously forecast, and averaged only 3.06 mm bpd, a shortfall of 173.000 bpd. The main reason for the shortfall is a decline in output from several large mature fields, delayed development projects (Åsgard, Oseberg Øst and Visund) and teething problems on developments that have come onstream during the last two years (Ekofisk II, Njord, Norne and Varg).
However, for the North Sea as a whole, the combined production of oil/NGL is expected to average 6,20 mm bpd, an increase of around 170.000 barrels from last year. This trend is expected to continue next year, which could mean a year on year increase of as much as 500.000 to 600.000 bpd from the North Sea as a whole for 2000.

Source: IINX via Iinoil
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