About Petoro

Petoro is a state-owned limited company which manages the SDFI in the Norwegian oil and gas sector. These holdings comprise a third of Norway’s oil and gas reserves and associated facilities. Petoro’s formal role as the licensee acting on behalf of the state is described in this two-minute film. Animation on Petoro

Management of Petoro AS

Petoro’s management team possesses broad specialist expertise as well as long and extensive experience from the petroleum industry on the NCS and internationally.
Kjetil Alsvik
Photo: Kjetil Alsvik

Ole Njærheim

- Vice president marketing and sales
Education: 
MBA from the University of Agder, MSc University of Surrey and Certified European Financial Analyst, Norwegian School of Economics (NHH)

Career: 
Has previously held positions as an adviser in Petoro, investment director in IKM Invest and as CEO of ECON Consulting Group. Has extensive international experience from consultancy assignments within energy and investment activity.

Marketing and sales department:
The department’s main job is to ensure, in accordance with the government’s marketing and sale instruction, the highest possible value creation from the SDFI’s oil and gas production and a rightful allocation of income and expenses between Statoil and the government. This work embraces monitoring of Statoil which, pursuant to the instruction, handles marketing and sales of the government’s oil and gas.
    
Extensive expertise on energy markets, with a special focus on the gas value chain, is crucial if Petoro is to perform its role under this instruction in the best possible way. European gas markets are experiencing major structural changes. Combined with ever greater globalisation of the gas market and increased emphasis on environmental considerations in energy policy, this represents big challenges for the Norwegian government as a substantial gas producer and supplier to the gas market. These changes will have a substantial effect on the state’s assets.