Norway’s Oil Production Continues to Fall
March 11, 2006
Norway’s oil production continues to fall
STOCKHOLM, March 10 (Xinhua) — Norway’s oil production slipped to a preliminary 2.46 million barrels per day on average in February from 2.49 million in January, and the tally is a marked drop from previous years, reports reaching here from Oslo said on Friday.
Production in February 2005 was 2.657 million bpd, and in February 2004 it was 2.988 million, according to figures from the Norwegian Petroleum Directorate (NPD).
Even if gas production during the same period has shown a steady rise, the decrease in oil production of 500,000 bpd over two years is dramatic.
Oil companies predict that the current situation is likely to last through the year.