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).

-Our number one job at all times is to ensure that the values in our oil and gas portfolio are realised. Our goal is also to create additional values through pro-active and strategic work in our partnerships on the Norwegian shelf. Petoro plays a key role here,- Kragseth says. Photo: Elisabeth Tønnesen

Continued strong cash flow despite lower gas prices and maintenance

[07.11.2023] - Press release - Third quarter 2023

Petoro has delivered a net cash flow from the State's Direct Financial Interest (SDFI) of NOK 219 billion as of the third quarter of 2023. Cash flow in the third quarter alone came to NOK 39 billion. The cash flow will be transferred to the Norwegian state in its entirety

Continued strong cash flow despite lower gas prices and maintenance - 2023-11-07 10:00

Petoro delivered NOK 180 billion to the state in the first half of 2023

[02.08.2023] - Press release - Second quarter 2023

Petoro delivered a net cash flow from the State’s Direct Financial Interest (SDFI) of NOK 180 billion as of the end of the second quarter of 2023. Net cash flow for the second quarter alone was NOK 63 billion.

Petoro delivered NOK 180 billion to the state in the first half of 2023 - 2023-08-02 10:00

Strong cash flow continues in the first quarter - Petoro delivered 117 billion to the State

[09.05.2023] - Press release - First quarter 2023

Petoro delivered NOK 117 billion in cash flow to the State from the SDFI portfolio in the first quarter of 2023. This is four billion more than the first quarter of 2022 and 91 billion more than the first quarter of 2021.

Strong cash flow continues in the first quarter - Petoro delivered 117 billion to the State - 2023-05-09 10:00

528 billion to the Norwegian state in 2022 - a year of exceptions

[14.03.2023] - Press Release Petoro 2022 results

Petoro delivered NOK 528 billion to the Norwegian state in 2022, more than five times the amount in a normal year. Energy prices are at record highs as a result of the war in Ukraine; a war that will cast a shadow over the geopolitical scenario for quite some time. Norway now covers 30% of Europe’s gas needs. Gas deliveries from the Norwegian shelf increased by eight per cent in 2022

528 billion to the Norwegian state in 2022 - a year of exceptions - 2023-03-14 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 36 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