Petoro - a driving force on the Norwegian continental shelf

PETORO  |  A driving force on the norwegian continental shelf
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A driving force on the norwegian
continental shelf
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Petoro’s most important job is to help ensure the highest possible value creation from The State’s Direct Financial Interests (SDFI) – value which benefits the whole of Norway.
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Annual report for 2014

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[27.03.15] - SDFI 2014:

Petoro's annual report for 2014 is now available on this website and can be accessed by clicking either on the link here or on the Publications tab at the top of this page. The report includes reflections from Petoro chief executive Grethe Moen on the dramatic changes experienced in 2014, the directors’ report and the accounts for both the State's Direct Financial Interest (SDFI) and Petoro AS as the management company for the SDFI
Click here to read the report

    Petoro - en drivkraft på norsk sokkel
    [13.03.15] - SDFI 2014:
    Mature fields more important than ever

    0090124 - oseberg field centre - photo harald pettersen - statoil
    Oseberg field centre - Photo Harald Pettersen - Statoil

    A cash flow of NOK 111 billion in 2014 represented a continued high level of revenues from the State’s Direct Financial Interest (SDFI) in Norway’s oil sector. Petoro chief executive Grethe Moen notes that fewer new developments mean income from the SDFI will be more dependent than ever on the mature fields over the next few years.
    Read the press release
    Read the Director's report



      Petoro - en drivkraft på norsk sokkel
      [04.11.14] - 3rd quarter of 2014
      Lower prices highlight the need for efficiency offshore Norway

      statoil-illustrasjon?x1=0&x2=626&y1=0&y2=527A decline in oil and gas prices is the main reason why net cash flow was down 35 per cent from the third quarter of 2013 to the same period this year from the State’s Direct Financial Interest (SDFI) on the Norwegian continental shelf (NCS). Petoro chief executive Grethe Moen says that the fall in oil prices emphasises the importance of improving cost efficiency in order to strengthen projects on the NCS in the global competition for investment capital.
      Read the press release
      Read the board of directors´report


        Petoro - en drivkraft på norsk sokkel
        [13.02.2015] - Press release
        The Johan Sverdrup plan - a historic milestone and industrial foundation

        0094661 - johan sverdrup field centre - photo statoil - statoil?x1=0&x2=2122&y1=727&y2=2292“The plan we are submitting today for development and operation of the Johan Sverdrup field represents a milestone in Norwegian petroleum history,” says Grethe Moen, president and CEO of Petoro. “It also provides an industrial foundation for further progress on the Norwegian continental shelf. And 13 February 2015 is   without doubt also a big day for Petoro, which is responsible for managing the state’s interest in this field. That’s a task we accept with both pride and respect.”
        Read more

          Petoro - en drivkraft på norsk sokkel
          [25.08.2014]
          Well into the future

          petoro-stand?x1=66&x2=605&y1=126&y2=502is the main theme of Petoro’s participation at the ONS 2014 oil show in Stavanger from 25-28 August. On behalf of the Norwegian government, the company spent NOK 16 billion on production wells last year – or almost half the total investment made in the State’s Direct Financial Interest (SDFI) on the Norwegian continental shelf (NCS).
            
          The combination of higher drilling costs and lower production per well poses a threat to profitability on the NCS. Petoro wants to see a halving of drilling costs and a doubling in the annual number of production wells drilled from fixed installations.
            
          Interviews in the Petoro Perspective magazine with petroleum and energy minister Tord Lien and industry leaders reveal broad agreement that the cost problem must be overcome collectively.
          Read more


            Petoro - en drivkraft på norsk sokkel
            Visiting adress: Øvre Strandgate 124, 4005 Stavanger
            Mail adress: PO Box Sentrum, 4002 Stavanger

            Telephone:   51 50 20 00

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