Johan Sverdrup's second phase is set to start later in Q4
Norwegian oil output awaits Sverdrup boost
Liquids production continues to trend lower ahead of Q4 Phase 2 startup
Norway’s oil production fell year-on-year for the 11th consecutive month in September, as the output growth trend driven by the ramp-up of the Johan Sverdrup field from late 2019 to the middle of 2021 continued to reverse. But the field’s second phase is set to start later in the fourth quarter, which could see Norwegian continental shelf (NCS) liquids production heading north again. Production of crude, condensate and NGLs averaged 1.84mn bl/d in September, down by 8pc month-on-month from 2mn bl/d in August and by just under 10pc year-on-year from 2.04mn bl/d in September 2021 (see Fig.1). Year-on-production has now fallen every mon
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