The Norwegian Petroleum Directorate has announced that Norway produced 15% less crude in September than had been estimated and was consequently likely to miss its daily production target for 2012 of just over 1.6 million bpd.
In September, Norway produced just over 1.2 million bpd of crude oil, down from just under 1.5 million bpd in August. According to the Directorate, the main reason for the fall in production was due to a combination of maintenance and technical difficulties. The Valhall and Hod fields were shut down for September in preparation for the onset of production from a new platform.
It is believed that it will now be particularly difficult for Norway to meet its 2012 target as the monthly estimates for the rest of the year were particularly high. The country’s complete hydrocarbon liquids output (including crude oil, natural gas liquids and condensates) for September averaged 1.514 million bpd, roughly 318 000 bbls lower than in August.
Edited from various sources by David Bizley
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