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.