NEWS
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[02.02.12]
Gullkronen 2012 award to Petoro and Faroe Petroleum
Petoro and Faroe Petroleum were jointly awarded Business Developer prize of the year, during Rystad Energy's "Gullkronen 2012" in Oslo recently. The award was for the swop of assets between Petoro and Faroe last year, where Petoro acquired Faroes 30 per cent share of the Maria discovery in the Norwegian Sea, while Faroe took over shares in a number of producing fields which were of less significance in Petoro's 146 license portfolio. fikk andeler i en rekke mindre felt som er i produksjon.
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[28.10.11]
Giant discoveries, big cash flow and reserve addition
The list of important developments in the 3. quarter of 2011 is topped by the Aldous Major discovery in the North Sea, where Petoro manages a holding of 30 per cent on behalf of the Norwegian state. Petoro president and CEO, Kjell Pedersen, calls for partners in both licences to establish a joint pre-unit at an early stage to manage optimum appraisal and development of the field. The head of Petoro has all the reason to also enjoy other 3. quarter results: A strong cash flow to the government and the highest additions to oil and gas reserves since booking of Ormen Lange gas in 2003.
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[29.08.11]
Petoro paper on EOR methods off Norway for WPC in Qatar
New and advanced methods for enhanced oil recovery (EOR) attracted great attention while crude was expensive in the 1980s, but interest declined as prices fell during the next decade. Petoro’s efforts to get the issue back on the agenda – for Heidrun among other fields – have not gone unnoticed. Erik Søndenå (to the right in the picture) and Adolfo Henriquez have been invited to present a technical paper on the issue to the 20th World Petroleum Congress (WPC) at Doha in Qatar during December.
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[02.08.11]
Results first half 2011 up 23 per cent
First-half income from the State’s Direct Financial Interest (SDFI) in the Norwegian petroleum sector rose by NOK 12 billion from the same period of last year, to NOK 65 billion in 2011. The main reason is higher prices. Production fell compared to first half of last year. Petoro’s CEO, Kjell Pedersen, suggests that some license groups on the Norwegian continental shelf can own mobile drilling rigs themselves, in order to drill more subsea wells and improve oil recovery.
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[29.07.11]
SDFI results on August 2On Tuesday 2 August at 10.00 Petoro will present the interim financial results for the State’s Direct Financial Interest in the first half and second quarter of 2011. The results will be presented at a press conference and at the same time on this web site.
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