Norwegian oil fields shoot significantly below targets in launch phase

A new study shows that three out of four Norwegian oil fields produce less oil in their first years than originally projected, reports Dagens Næringsliv.

Photo: Wintershall

Norwegian oil fields often produce significantly less oil than originally anticipated in the first four years after their launch, shows a new study from the University of Stavanger according to Dagens Næringsliv.

The study covers forecasts submitted by oil companies to the Norwegian Petroleum Directorate ahead of 56 oil field developments in the years  1995 to 2017, and it concludes that three out of four Norwegian oil fields clock in below the announced production forecasts in their first years.

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