Main objective
The company's main objective is to maximise the economic value of the state's oil and gas portfolio on the basis of sound business principles.
Vision: Petoro - a driving force on the Norwegian continental shelf
Petoro is not an operator, but a licensee – normally termed a partner.
The company’s ability to create value is closely related to its ability to collaborate with and influence operators and other partners.
Petoro has the same rights and duties as the other licensees or partners on the Norwegian continental shelf.
The combination of a goal achieving the largest possible financial value creation, a very large portfolio by international standards and a small organisation means that Petoro must work in a very special way to make “a positive difference”.
The principal arena for the company’s operations is the individual licences and projects. A substantial contribution from Petoro will be to identify additional opportunities for enhanced value creation through interaction between these holdings.
Such a role and mode of working forms the basis for the vision established by Petoro – to be a driving force on the Norwegian continental shelf.
This vision points particularly towards collaboration with its partners in the licences. But Petoro also wants to apply it to other relationships – with the supplies industry, technological specialists, the government and society as a whole.
Values
Petoro has amplified its values by describing the attitudes which underlie them - and the actions they are intended to support.
-
Vigorous means that we will seize opportunities for value cration, establish our own positons, take the initiative and clarify expectations, and deliver
-
Responsible means that we are active with regard to health, safety and the environment, we care, and we do our work solidly, professionally and with great integrity
-
Inclusive means that we value the expertise and experience of others and benefit each other. We are open and inquisitive, and collaborate both internally and externally to create results
- Bold means that we think innovatively and are adaptable to achieve results. We dare to progress through trial and error, and by learning from our mistakes. We challenge established truths.