According to the Norwegian Petroleum Directorate (NPD), 85 fields were producing oil and gas on the Norwegian shelf at the end of 2017, five of which came onstream during the year. Besides, 10 new plans for development and operation (PDOs) have been submitted, of which nine are currently under development.
Total oil and gas production increased for the fourth year in a row, reaching 236.4 mcm of oil equivalent in 2017, which is 2.7% more than in 2016. Gas sales rose by 6.6% to 124.2 bcm, due to a higher demand in Europe. Oil production dipped by 2% to 1.59 mb/d, mainly due to an unplanned maintenance shutdown on the Goliat field.
The NPD estimates that the oil and gas production will increase until 2022 and could reach again the 2004 record levels. Total production is expected to remain stable in 2018 (slight reduction to 233 mcm oil equivalent). Crude oil production is forecast to decline by an additional 2%, to 1.55 mb/d, and to erode through 2020. After 2020, the Johan Sverdrup oil field will contribute to a new upswing in production. Gas production should continue to grow steadily through 2022, contributing to a global increase in oil and gas production (up to 256 mcm oil equivalent in 2022). In the long term (2030), oil and gas production should decline, from around 4 mboe/d in 2017 to 3.3 mboe/d in 2030.