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PETORO | A driving force on the norwegian continental shelf

3 2 1 Publications Who we are Petoro is the licensee for The State’s Direct Financial Interests (SDFI) in production licences, fields, pipelines and land-based plants. Read more >> What we do 3 2 1 What we do Publications The company’s most important job is to help ensure the highest possible value creation from the SDFI – value which benefits the whole of Norway. Read more >> Who we are 3 2 1 Who we are What we do Annual reports, Interim reports and other presentations and reports. Read more >> Publications
PETORO \| a driving force on the Norwegian continental shelf The Norwegian government has large holdings in oil and gas licences on Norway’s continental shelf (NCS) through the State’s Direct Financial Interest (SDFI). These are managed by Petoro AS. The company’s most important job is to help ensure the highest possible value creation from the SDFI – value which benefits the whole of Norway. NEWS [12.06.13] Changes to Petoro management Grethe Moen has assumed her new role as President and CEO of Petoro, succeeding Kjell Pedersen who retired from the company. As a consequence of Moen's move to the top position, Jan Terje Mathisen (picture) has been temporary appointed to Moen's previous job as vice president for Petoro's mature fields. Mathisen is a civil engineer and economist with a broad background from project management, field development and business development. He joined Petoro in 2008. Read more
[28.05.13] Grethe Moen new president and CEO of Petoro AS The Petoro Board of Directors on May 28 appointed Ms Grethe Moen as president and CEO of the government owned company. Moen comes from a position as vice president of mature fields in Petoro and before that from a number of managerial positions in Statoil and Shell. Read more [26.02.13] Kjell Pedersen, Petoro: 2012 second-best year, staffing drilling rigs will be challenging The State’s Direct Financial Interest (SDFI) on the Norwegian continental shelf (NCS) had one of its two best-ever years in 2012. According to the Petoro press release, accounts show that the net cash flow to the government was NOK 146.9 billion, almost 15 per cent higher than in 2011. Petoro's president and CEO Kjell Pedersen is satisfied with strong 2012-reults. Of important development projects in addition to the Johan Sverdrup field, he points to the Skrugard field concept selections, bringing oil to far northern shores. Pedersen sees the Barents Sea and the far north emerging more clearly as the next big province for developing Norway’s petroleum sector. At the same time he sees the very high activity level offshore Norway as a big challenge in terms of manning many new drilling rigs with competent people. He urges employers and employees to sit down together to find remedies, and he suggests that such a discussion even needs to be about work schedules. Read the press release See Directors´Report	[03.05.13] Production reduced and uncertainty about investments in mature fields Operating problems and lower output from Troll and Snøhvit contributed to some decline in net cash flow from the State’s Direct Financial Interest (SDFI) in the first quarter compared with the same period of 2012. Petoro chief executive Kjell Pedersen views this as a reminder of the importance of Norway’s mature fields. He is unsure whether the licensees can manage to take major investment decisions in such fields at a time of great activity. Read the press release Read the board of director´s quarterly report [08.01.13] Kjell Pedersen retires from Petoro Mr. Kjell Pedersen, president and CEO of Petoro AS has announced his retirement from his position, effective June 12 2013. Read more Go to news archive >>