Petoro

The Norwegian State has substantial holdings in several oil and gas fields, pipelines and land facilities linked to the Norwegian continental shelf through the State’s Direct Financial Interest (SDFI). Petoro AS manages these interests. The Company’s most important task is to ensure maximum value and achieve the highest possible income to the State from SDFI. The entire cash flow from SDFI is transferred to the Government Pension Fund Global (the Petroleum Fund).

Johan Castberg. Photo: Nicholas Van De Pas

139 billion for the state in the first half of 2025

[07.08.2025] - Press release - First half 2025

In the first half of 2025, Petoro delivered a net cash flow from the State's Direct Financial Interest (SDFI) of NOK 139 billion. The cash flow will be transferred to the Norwegian state in its entirety. Two new fields on stream help bolster the supply of energy to Europe

139 billion for the state in the first half of 2025 - 2025-08-07 10:00

-In spite of the reduction compared with 2023, the cash flow is still the third-highest in Petoro's history. A lot of good work is being done in our industry, and we're closing the books on yet another year of good operations and high production on the fields we participate in,- says Kristin F. Kragseth, Petoro CEO. Photo: Anne Lise Norheim

The third highest cash flow in Petoro's history

[18.03.2025] - Press Release Petoro 2024 results

Petoro delivered a net cash flow from the State's Direct Financial Interest (SDFI) of NOK 220 billion in 2024. Net cash flow for the fourth quarter alone came to NOK 46 billion. Since 2022, Petoro has transferred NOK 1025 billion from the SDFI to the state

The third highest cash flow in Petoro's history - 2025-03-18 10:00

Troll A. Photo: Øyvind Granås/Even Kleppa - Woldcam/©Equinor

Solid operations yield strong cash flow from the SDFI portfolio

[06.11.2024] - Press release - Third quarter 2024

Petoro has delivered a net cash flow from the State's Direct Financial Interest (SDFI) of NOK 174 billion as of the third quarter of 2024. Cash flow in the third quarter alone came to NOK 61 billion. The cash flow will be transferred to the Norwegian state in its entirety

Solid operations yield strong cash flow from the SDFI portfolio - 2024-11-06 10:00

Heidrun. Photo: Harald Pettersen, Equinor

114 billion to the state in the first half of 2024. Ownership swaps bolster the long-term strategy.

[01.08.2024] - Press release - Second quarter 2024

Petoro delivered a net cash flow from the State's Direct Financial Interest (SDFI) of NOK 114 billion as of the second quarter of 2024. Net cash flow for the second quarter alone came to NOK 54 billion

114 billion to the state in the first half of 2024. Ownership swaps bolster the long-term strategy. - 2024-08-01 10:00

SDFI facts

Petoro manages the State’s Direct Financial Interest and is a licensee for about 1/3 of the oil and gas reserves, with interests in 44 producing fields on the Norwegian shelf.

Results

Petoro shall, on a commercial basis, create the greatest possible financial value from the SDFI.

Results

Organisation

Petoro has a small and flat organisation with employees who have long and broad-based experience from the petroleum industry.

Organisation

Main tasks

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.

Main tasks