November 13, 2012 / 7:55 AM / in 5 years

UPDATE 1-Norway's oil production short of forecast in Oct

* Oil production in first 10 months was 3 pct below targets
    * Will be a "challenge" to met full-year target

    OSLO, Nov 13 (Reuters) - Norwegian oil and gas production
fell short of forecasts once again in October and the full-year
output target could also miss expectations, the Norwegian
Petroleum Directorate said on Tuesday.
    Oil output in October totalled 1.472 million barrels per
day, short of the 1.7 million barrel target as several fields
were either shut or had not come online, the NPD said in a
    Natural gas sales totalled 10.0 billion cubic meters for the
month, below the NPD's forecast for 10.36 million cubic meters.
    Norway is the world's eighth-biggest oil exporter and
Europe's second-biggest piped gas supplier.
    "Oil production is also about 3.0 percent below the
cumulative prognosis this year," NPD forecasting director Jan
Bygdevoll said. "Since the prognosis for the remainder of the
year is relatively high, it might be a challenge to meet the oil
production target for 2012."
    Production is below target due to issues at seven different
fields, many of which remain unresolved, the NPD said.
    Production at the Ula, Tambar and Oselvar fields was closed
after hydrocarbon leak at BP's Ula platform, while
production at BP's Skarv and Talisman's Yme fields did
not start this year as planned, the NPD said.
    In addition, BP's Valhall and Hod fields were closed in
preparation for production start through a new platform.
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