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

Grethe K. Moen - Foto: Anne Lise Norheim

Best result in five years, but inefficiency costs too much

[07.03.2019] - Press Release - Petoro 2018 results
Petoro delivered NOK 120 billion to the state in 2018. That is NOK 33 billion more than in 2017 and is one of the best years ever in Petoro’s history. “The Norwegian shelf is better-equipped now than it has been for quite some time. Over the last few years, we have matured robust projects that are competitive, even with significant price fluctuations. This is a competitive advantage we must work hard to preserve,” says Petoro’s president and CEO, Grethe Moen.

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Askepott Oseberg Vestflanken 2 - February 2018. Photo: Equinor / Erlend Hatteberg / CHC Helikopter Service
[01.11.2018] - Press Release – Third quarter 2018

Strong increase in SDFI income – Petoro’s result as of the 3rd quarter of 2018

Revenues from Petoro continue to rise. Net cash flow from the SDFI portfolio as of the third quarter amounted to as much as NOK 86 billion. This is 21 billion higher than the same period last year, which is an increase of more than 30 per cent.

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johan sverdrup sail away
[02.08.2018] - Press Release – Second quarter 2018

Great opportunities on the Norwegian continental shelf

The positive development on the Norwegian shelf continues. In the first half of 2018, Petoro delivered as much as NOK 56 billion to the Norwegian state; an increase of 14 per cent compared with the same period last year. “If we want to maintain high revenues, we need to see an even stronger drive for innovation in the industry,” says Petoro’s President and CEO Grethe Moen, and adds that we must constantly pursue and facilitate increased technological development.

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Photo: Statoil – Roar Lindefjell / Bo Randulff
[09.05.2018] - Press release 1st quarter 2018

Strongest start of the year since 2014

As of the first quarter, net cash flow from Petoro totalled NOK 32.5 billion, an increase of 19 per cent from the same period last year. Petoro is now entering an exciting period of historically high project activity.

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