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Norway oil and gas production: review of 2014; outlook for 2015

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02 April 2015

Norway oil and gas production: review of 2014; outlook for 2015

Report summary

Oil production increased for the first time since 2000, with total liquids output reaching 1.9 mmbbl/d. It is expected to remain flat over the next five years. Gas production remained flat in 2014 due to the softening European market. Production is expected to remain at this level until 2019. The industry focussed on value over volume, intensified by the sharp drop in oil price. A number of major projects were delayed, impacting production from this year and into the next decade.

Table of contents

  • Oil production increases for first time in 14 years
  • Skarv drives production increase
  • Issues at key hub
  • Swing producers reduce output as demand falls
  • But offset by improved performances
  • Key projects shelved
  • Drilling and maintenance under review
  • Major milestone for Johan Sverdrup
  • Tight deadlines for remaining projects

Tables and charts

This report includes 10 images and tables including:

  • Norway Liquids Production
  • Top ten liquids producing developments
  • Norway Gas Production
  • Top ten gas producing developments
  • Norway oil and gas production: review of 2014; outlook for 2015: Image 5
  • Pre-sanction Break-even prices
  • Onstream in 2014 and 2015 (as at April 2015)
  • Expected onstream in 2015
  • Norway liquids production by company, 2014
  • Norway gas production by company, 2014

What's included

This report contains:

  • Document

    Norway oil and gas production: review of 2014; outlook for 2015

    PDF 332.61 KB

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