By Kjetil Malkenes Hovland
OSLO--Norway has missed its oil production target for a third
consecutive month and won't achieve its 2012 goal for output
because of maintenance and technical problems, mostly involving
fields operated by BP PLC (BP) and Statoil ASA (STO).
November crude oil production was 15% below the official
forecast, while September were also off by 12% and 15%
respectively, the Norwegian Petroleum Directorate said.
Oil production is about 4% below expectations for the year so
far, the government agency said.
Norway's crude oil output peaked in 2000 at 3.12 million barrels
per day. It was about half that in 2011. Output averaged 1.443
million barrels a day in November, when maintenance and technical
problems kept the Valhall and Hod fields operated by BP out of
service for a second month.
Three other fields--BP's Ula and Tambar and the Oselvar field
operated by the DONG Energy AS S (DONG.YY)--also remained closed,
because of a hydrocarbon leak.
Plans to start production have been delayed at two other fields.
One, the BP-operated Skarv field, is expected to start pumping in
December but that will not save the production target, the agency
said.
Production at Gjoa, operated by GDF Suez (GSZ.FR), and Statoil's
Njord, Asgard and Troll fields have also been affected by technical
problems or planned maintenance, according to the directorate.
The production start-up at the Talisman-operated Yme field is
still uncertain after it was evacuated earlier this year due to
cracks in the platform structure.
Total petroleum production by end-November 2012 is slightly
higher than in the year-earlier period, at 1.294 billion barrels of
oil equivalent, or about 3.86 million barrels per day. This
includes oil, gas, condensates and natural gas liquids.
-Write to Kjetil Malkenes Hovland at
kjetilmalkenes.hovland@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires