Oil and gas production in Norway, the main supplier to the EU, exceeded all forecasts

Hydrocarbon production in Norway, the largest supplier of natural gas in Europe, exceeded official forecasts by 3.9% in July. However, production volumes fluctuate from month to month depending on the maintenance work carried out at more than 90 offshore fields in this Scandinavian country. Details are given by the publication Profit.Ro .

The total production of hydrocarbons in Norway in July amounted to 0.672 million standard cubic meters per day, which is equivalent to 4.23 million barrels of oil equivalent and 2.9% less than a year earlier. Natural gas production in July decreased to 328.3 million cubic meters per day compared to 360.7 million cubic meters in the same month last year, but exceeded forecasts of 321.2 million cubic meters by 2.2%.

According to preliminary data, crude oil production in July increased to 1.96 million barrels per day compared to 1.83 million barrels per day in the same month last year and exceeded the forecast of 1.81 million barrels daily.

"Norway will remain a long—term supplier of oil and gas to Europe, and the continental shelf will continue to create value and jobs for our country," said Energy Minister Terje Osland.