Vision, strategy and values

Main objective

Petoro’s purpose is to be responsible for and manage the commercial aspects related to the SDFI on behalf of the state and at the state’s expense and risk. Its objective is to create the highest possible financial value from the state’s oil and gas portfolio on the basis of sound business principles. 

Vision: Petoro – a driving force offshore Norway

Petoro is not an operator, but a licensee – normally called 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 obligations as the other licensees on the NCS.
     
Given the objective of achieving the highest possible financial value creation, a very large portfolio in an international context and a lean organisation, Petoro must work in a very special way to make a “positive difference”.
     
The principal arena for the company’s activities is the individual production licences and projects. Another important contribution it can make is to identify opportunities for boosting value creation through collaboration between licences/projects.
     
Such a role and this mode of working form the basis for Petoro’s vision of being a driving force offshore Norway.
     
That vision gives particular emphasis to collaboration with the other partners in the licences. But Petoro also seeks to apply this approach to other relationships – with the supplies industry, technology groups, the government and society as a whole.

Values

Petoro has elaborated its values by describing the attitudes which underlie them – and the actions they are meant to support.
Vigorous
Inclusive
Responsible
Bold

Strategy

Strategy-eng