Oil production in Norway jumped to the highest in 10 years

Oil production in Norway increased by 17% in July compared to June and reached 1.96 million barrels per day, the highest level since 2011, according to the Norwegian Petroleum Directorate.

The growth was driven by increased production at the new Johan Castberg field in the Barents Sea, which is being developed by Equinor ASA. Together with the largest Johan Sverdrup field, they provide about 1 million barrels per day.

Norwegian companies are actively investing billions of dollars in maintaining production on the mature continental shelf. According to the FGE NexantECA consulting company, July oil supplies from the country were the highest since 2012, although total exports are still below the levels of the early 2000s.