NOK 78 billion to the Norwegian government – Petoro not satisfied

CEO Kjell Pedersen finds it strange not to be satisfied with 78 billion kroner - which is the cashflow Petoro transferred to the Norwegian government in the first three quarters of 2010. “It is a conciderable amount of money and a strong financial result. But behind the numbers are continued big drop in oil production from our mature fields and a reduction of our investments which shows that we are not able to maintain planned activity”, said Pedersen.