The shelf in 2003 - Increased petroleum production
14/01/2004 The production of marketable petroleum reached a new peak in 2003, with a total production of 262 million marketable Sm3 oil equivalents (o.e.). This is 3 million Sm3 o.e. more than the record-breaking year 2002. The increase is mainly due to increased sales of gas.
Three new fields have come on stream in the course of the year. These are Fram, Grane and Mikkel. It is expected that another two fields will start producing in 2004; Kvitebjørn and Skirne.
Total production of petroleum in 2004 is expected to be at the same level as in 2003 before it peaks in 2008.
In the five-year period until 2008 it is expected that 1 385 million Sm3 o.e. will be produced. This is 140 million Sm3 o.e. more than in the five-year period 1999 ? 2003.
It is the sale of gas that contributes to the increase. In 2003, 73 billion Sm3 of gas was sold, i.e. an increase of 7.4 billion Sm3 compared with 2002 (+ 10%). It is also expected that the production of marketable gas will increase in the years ahead.
The baseline scenario prepared by the Norwegian Petroleum Directorate (NPD) includes an expectation of an increase in gas sales from today's level to more than 100 billion Sm3 in 2010.
Production of oil was lower last year than in earlier years. 166 million Sm3 was produced and delivered in 2003 compared with 174 million the year before. Oil production in 2003 was 1.5 percent lower than the NPD's latest estimate.
For 2004 the NPD estimates that oil production will be somewhat higher than in 2003. In the period 2004 ? 2008 it is expected that about 750 million Sm3 of oil will be produced. This is 100 million Sm3 less than in the previous five-year period.