Norway produced 361.2 million standard cubic meters a day (MMscmd) of natural gas last month, 0.11 percent higher than November, official figures showed Tuesday.
Year-on-year, the December figure marks a decrease of 5.64 percent and the second consecutive month that the Nordic country’s monthly gas output fell by prior-year comparison. Norway’s monthly gas output in 2024 had consistently risen year-over-year in the first 10 months, based on data published online by the Norwegian Offshore Directorate.
December’s gas production beat the official forecast by 1.9 percent, so did total hydrocarbon production by one percent.
While Norway’s total December production of 682,000 standard cubic meters of oil equivalent rose 1.19 percent month-on-month, it dropped 5.28 percent compared to December 2023.
Oil production in December 2024 averaged 1.78 million barrels per day (MMbd). Total liquid production landed at 2.02 MMbd.
Earlier the upstream regulator said Norway set a new record in 2024 with 124 billion standard cubic meters of gas sold, compared to the previous record of 122.8 billion standard cubic meters sold in 2022.
In December 2024 Norway sold 11.2 billion standard cubic meters of gas, 3.57 percent higher than November.
In the third quarter of 2024 Norway continued to be the European Union’s top pipeline gas supplier with a share of 47 percent, according to the European Commission’s latest quarterly gas market report published December 20. Norway has been the EU’s biggest gas source since the latter half of 2022, months after Russia invaded Ukraine, according to Commission data.
Gas accounts for over half of production on the Norwegian continental shelf, and most of this gas is exported to Europe, according to the Directorate.
Norway’s total hydrocarbon production was about 242.6 MMscm of oil equivalent (MMscmoe) in 2024, consisting of around 102.9 MMscmoe of oil, about 13.5 MMscmoe of natural gas liquids and condensate, and about 126.3 MMscmoe of gas for sale. The total volume grew eight MMscmoe against 2023, the Directorate reported.
Besides the gas production record, Norway’s total oil and gas production in 2024 was the highest since 2009, according to the Directorate.
Norway holds about 7.1 billion standard cubic meters of oil equivalent (Bscmoe) remaining resources in its continental shelf. The figure includes 3.5 Bscmoe undiscovered resources, according to the Directorate’s 2024 “Resource Report”.
On January 14, 2025, the Energy Ministry awarded 53 hydrocarbon production leases on the country’s continental shelf under last year’s licensing round.
A total of 20 firms, out of 21 that applied under the 2024 Awards in Pre-Defined Areas (APA), were offered ownership interests.
“Continued development of the Norwegian continental shelf (NCS) is important for employment, value creation, and the ripple effects of petroleum activities on the mainland going forward”, Energy Minister Terje Aasland said in an online statement.
“We need new discoveries to ensure that Norway can remain a stable and predictable supplier of oil and gas to Europe. It is therefore very positive to see such great interest in new exploration areas”.
Thirty-three of the new licenses are on Norway’s side of the North Sea. Nineteen are in the Norwegian Sea, while one is in the Norwegian portion of the Barents Sea.
Norway’s majority state-owned Equinor ASA won the most licenses with 27. It is operator in seven of these.
Aker BP ASA has the most operatorships, numbering 16. It is a participant in a total of 19 licenses under the 2024 APA.
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