En drivkraft på norsk sokkel
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).
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Photo: Petoro

Solid cash flow – impacted by weaker gas market

[06.03.2020] - Press Release Petoro 2019 results
Petoro delivered 96 billion kroner to the state in 2019. That is 24 billion kroner less than the previous year, a fact which is mainly due to lower gas production and lower gas prices. Even with this decline, the cash flow remains solid.
14 licences to Petoro
14 licences to Petoro
[14.01.2020]
On 14 January, the Ministry of Petroleum and Energy awarded 69 production licences in APA (Awards in pre-defined areas) 2019. Petoro received a total of 14 licences for administration, 7 in the North Sea, 3 in the Norwegian Sea and 4 in the Barents Sea.
40 per cent cut in greenhouse gas emissions by 2030 – net zero in 2050
40 per cent cut in greenhouse gas emissions by 2030 – net zero in 2050
[07.01.2020]
Today, Norwegian Oil and Gas has published a new Climate Roadmap for the Norwegian oil and gas industry towards 2030 and 2050.
New projects provide a basis for increased revenue
New projects provide a basis for increased revenue
[30.10.2019] - Press release - Third quarter 2019
Petoro's investments as of the third quarter totalled NOK 19 billion, two billion higher than the same period last year. This reflects the high level of activity on the Norwegian shelf. Net cash flow from SDFI amounted per third quarter to NOK 78 billion, a reduction of seven billion from the same period last year, which was caused by lower production and prices.
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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 34 producing fields on the Norwegian shelf.
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Results

Results

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

Organisation

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

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.