Feb. 21 (UPI) -- The Norwegian government on Tuesday said production for January was lower than expected, despite a strong start to 2023 in terms of new oil and natural gas discoveries.
The Norwegian Petroleum Directorate, the nation's energy regulator, published data Tuesday showing crude oil production averaged 1.75 million barrels per day and natural gas production averaged 12 billion cubic feet per day last month.
To put that in context, oil production is close to the average daily output from North Dakota, home to the Bakken shale formation. Gas production is relative to the Haynesville reserve, the third-largest shale natural gas producer in the United States.
Oil production in Norway was 3% below the government's forecast, while gas production was 3.9% below the NPD's expectations.
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The NPD gave no reason for the deviation. Meanwhile, the lackluster performance came after a series of new discoveries in Norwegian waters.
Norwegian energy company Equinor made its first commercial natural gas discovery in its territorial waters for the year in mid-January. The new find could be connected with the infrastructure at the Irpa field, which will be tied into the larger Aasta Hansteen complex and extend its life by seven years.
Equinor followed up with a mostly oil discovery near the existing Troll field in the North Sea in early February, the company's seventh find in the area since 2019.
The NPD has 13 new development plans to clear out and is expecting some $30 billion in investments in the sector, which could support future increases in crude oil and natural gas production.
Much of what's left offshore Norway is in the frigid waters of the Barents Sea, where the government sees a huge upside potential.
