Preliminary official figures launched Wednesday confirmed Norway produced 351.3 million customary cubic meters a day (MMscmd) of pure gasoline in March, dropping month-on-month and year-on-year however beating the official forecast by 0.4 %.
The Nordic nation, which has displaced Russia because the European Union’s high supply of pipeline gasoline within the aftermath of the conflict in Ukraine, offered 10.9 billion customary cubic meters (Bscm) in March. That’s up 100 MMscm from February, in response to figures revealed on-line by the Norwegian Offshore Directorate.
In line with the most recent quarterly gasoline market report of the European Fee, Norway accounted for 50 % of gasoline imported into the EU by pipeline within the fourth quarter of 2024.
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In March Equinor ASA stated it has put the Halten East subject within the Norwegian Sea onstream, unlocking new gasoline for Europe.
“We’re beginning up Halten East at a time the place piped gasoline from Norway is in excessive demand and vital for power safety”, Geir Tungesvik, government vp for tasks, drilling and procurement at Equinor, stated in an organization assertion March 17.
Halten East, a tie-in to be developed in two phases, holds about 100 million barrels of oil equal recoverable reserves, in response to the Norwegian majority state-owned power firm. “The second section is deliberate in 2029”, Equinor stated.
In the meantime Norway’s oil manufacturing in March 2025 averaged 1.76 million barrels per day (MMbd), up sequentially however down year-over-year.
In late March Equinor achieved first oil on the Johan Castberg subject within the Barents Sea, rising Norway’s manufacturing capability by 220,000 barrels per day (bpd) at peak.
“The Johan Castberg subject will contribute essential power, worth creation, ripple results and jobs for not less than 30 years to come back”, Tungesvik stated.
Recoverable volumes are estimated to be 450-650 million barrels, Equinor stated.
“Johan Castberg opens a brand new area for oil restoration and can create extra alternatives within the Barents Sea”, added Kjetil Hove, Equinor government vp for exploration and manufacturing in Norway. “We have already made new discoveries within the space and can maintain exploring along with our companions.
“We have recognized choices so as to add 250-550 million new recoverable barrels that may be developed and produced over Johan Castberg”.
Twelve of Johan Castberg’s 30 wells “are prepared for manufacturing”, sufficient to realize the anticipated peak quantity within the second quarter, Equinor stated. It plans to proceed drilling till late 2026.
It’s the third subject developed on Norway’s facet of the Barents Sea after Snøhvit, which went on-line 2007, and Goliat, which started manufacturing 2016.
To contact the writer, e mail jov.onsat@rigzone.com
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