A driving force offshore Norway

The Norwegian state has substantial holdings in production licences on the Norwegian continental shelf (NCS) through the State’s Direct Financial Interest (SDFI). These assets are managed by Petoro AS. The company’s most important job is to help ensure the highest possible value creation from the SDFI to the benefit of the whole of Norway

Troll A. Photo: Øyvind Hagen, Statoil

Unpredictability requires improved competitiveness

[15.03.2017] - Press Release - Petoro 2016 results
The industry is still characterised by considerable uncertainty. The ability of the Norwegian Shelf to compete in a demanding global energy market requires cost-effective production, with the lowest possible emissions. The adjustment work undertaken in 2016 has yielded impressive results. For example, field costs have been reduced by a further 12% since 2015, and we have drilled a record number of wells on our permanent installations.

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Read the directors' report
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Management team of Petoro. Photo: Kjetil Alsvik
[13.03.2017 ]

Two new VP's join Petoro's management team

Petoro has recently hired two new Vice presidents as additions to its management team. Hege Waldenstrøm Manskow was hired as Vice president organisation and business support, while Ole Njærheim joined the team in the position of Vice president marketing and sales. 

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Grethe Moen - Photo: Emile Ashley
[03.11.2016] - Press release 3rd quarter of 2016

Additional innovation is essential for increased activity

The future of the Norwegian Shelf depends on further innovation to maintain our position as a global competitor and ensure new activity..

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Erling Bergerød accepted the price on behalf of Petoro.

Åsgard Licensees Awarded the NPD's IOR Prize

The Norwegian Petroleum Directorate (NPD) awarded its Improved Oil Recovery (IOR) prize to Åsgard licensees at ONS 2016. The citation emphasized that through Åsgard subsea compression, the licensees have demonstrated how creativity, persistence and willingness to take risks, both in terms of the use of methods and technology, can increase the recovery of oil and gas beyond previous expectations

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