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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Pioneering Spirit Sverdrup - Photo: Roar Lindefjell / Espen Rønnevik / Equinor

Increased investments secure future revenues

[09.05.2019] - Press release – First quarter 2019
Petoro delivered a net cash flow of NOK 32 billion in the 1st quarter of 2019. This is on par with the first quarter of last year. “We are pleased to present such a good result, but our revenues could have been higher with increased drilling efficiency,” says President and CEO in Petoro, Grethe Moen.
Best result in five years, but inefficiency costs too much
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.
Strong increase in SDFI income – Petoro’s result as of the 3rd quarter of 2018
Strong increase in SDFI income – Petoro’s result as of the 3rd quarter of 2018
[01.11.2018] - Press Release – Third quarter 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.
Great opportunities on the Norwegian continental shelf
Great opportunities on the Norwegian continental shelf
[02.08.2018] - Press Release – Second quarter 2018
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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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.