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Thursday, October 18, 2018

Norwegian oil production lower than projected – The Norwegian Oil Directorate

According to the Norwegian Oil Directorate, the average oil production in the Norwegian North Sea sector in June was 2.605 mbd, the lowest so far in 2003. The figures from the Oil Directorate are below the projection for 2003 of above three million barrels per day (mbd), having for the first half of the year only been 2.876 mbd. The shortfall is partly due to planned maintenance of fields, but oil production was also lower for the months when no maintenance took place.