Norway’s hydrocarbon output rose by 0.4% in 2022 to 3.99 boe/d, driven up by a 7.9% increase in gas production to 122 bcm, according to the Norwegian Petroleum Directorate (NPD). Liquid extraction declined by 6.9% in 2022 to 1.89 boe/d with a 5% drop in oil production to 1.68 mb/d.
In December 2022, Johan Sverdrup Phase 2 came on stream in the North Sea. In addition, Nova has commenced production, Njord in the Norwegian Sea has started up following modification work, and several new fields are projected to start producing in the years to come. In addition, older fields are producing longer and more than previously expected.
Over the next five year (2023-2027), the country’s hydrocarbon output is forecast to remain roughly stable, with +0.3%/year. Norway’s gas output will decline by 0.3%/year to 120 bcm in 2027, whereas liquid production will sightly increase by 1%/year to 1.98 boe/d. The authorities received 13 plans for new developments (PDOs), as well as several plans for projects aimed at increasing recovery near existing fields, or extending field lifetimes. Decisions have also been made to approve major investments on existing fields.