Norway's total oil production is expected to fall to 2.2 million barrels a day in 2010, down 5% from 2009, the country's Ministry of Petroleum and Energy said Tuesday.
Norway's total oil production is expected to fall to 2.2 million barrels
a day in 2010, down 5% from 2009, the country's Ministry of Petroleum and
Energy said Tuesday.
The forecast output includes natural gas liquids and condensate, the ministry
said in an emailed statement.
"While oil production declines, gas production is still increasing,"
the ministry said.
Norway
is
forecast to produce 105 billion standard cubic meters of gas in 2010.
The country also raised its budget assumption for oil prices in 2010 and 2011
to NOK485 a barrel, or around $83 a barrel, driven largely by economic growth
in non-OECD countries.
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