Norway Expects a Decrease in Oil production in 2013

According to the Norwegian Petroleum Directorate, oil production in Norway in 2012 decreased by 8.5%. Despite record level of investment in the oil sector in 2012 – $ 25 billion,  Norway’s oil production in the past year has continued to decline.

Peak of oil production in the country was in 2000 at a level of 3.12 million barrels a day. After that, oil production has declined steadily and by the end of 2012, the amount halved – 1.53 million barrels a day.

Oil experts point out that the decline in Norwegian oil production is due to the backdrop of the natural depletion of oil fields in the North Sea. In addition technical problems in the fields Valhall, Hod, Ula and Tambar, which BP controls, as well as deposits of Njord, Asgard and the Troll, controlled by Statoil, all made its negative contribution to the decrease.

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