Norwegian oil output awaits Sverdrup boost
Liquids production continues to trend lower ahead of Q4 Phase 2 startup
Norway’s oil production fell year-on-year for the 11th consecutive month in September, as the output growth trend driven by the ramp-up of the Johan Sverdrup field from late 2019 to the middle of 2021 continued to reverse. But the field’s second phase is set to start later in the fourth quarter, which could see Norwegian continental shelf (NCS) liquids production heading north again. Production of crude, condensate and NGLs averaged 1.84mn bl/d in September, down by 8pc month-on-month from 2mn bl/d in August and by just under 10pc year-on-year from 2.04mn bl/d in September 2021 (see Fig.1). Year-on-production has now fallen every mon

Also in this section
12 June 2025
Asian and European interest gathers pace as Trump throws his weight behind frontier state
12 June 2025
The government is optimistic that increasing offshore activity and exploration will help revive flagging production, despite energy security fears
12 June 2025
Tariffs, AI, critical minerals and emerging markets all raise fundamental policy questions