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.