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: Arne Reidar Mortensen / Equinor

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.
Norwegian shelf giant on stream
Norwegian shelf giant on stream
[08.10.19]
On 2 October, production started from the giant Johan Sverdrup field, which is owned by Equinor, Lundin Norge, Petoro, Aker BP and Total. Production started more than two months ahead of the original plan and 40 billion kroner under the original budget.
Dvalin start-up
Dvalin start-up
[13.08.2019]
After two and a half years of construction work, the 3500-tonne Dvalin module was lifted on board the Heidrun platform on Saturday, 3 August. The lifting operation was conducted by the Saipem 7000 lifting vessel. The Dvalin field is a subsea development 15 kilometres northwest of Heidrun.
59 billion to the Norwegian Oil Fund from Petoro first half 2019
59 billion to the Norwegian Oil Fund from Petoro first half 2019
[08.08.2019] - Press release - Second quarter 2019
The Norwegian continental shelf remains strong. Stable production contributed to Petoro’s transfer of 59 billion kroner to the Norwegian Government Pension Fund Global (the Norwegian Oil Fund) in the first six months of 2019, three billion more than in the first half of 2018. Petoro’s revenues account for a vital share of the State’s income from the oil and gas industry. “It is very gratifying to note that revenues from the State’s portfolio remain high,” says Grethe Moen, President and CEO of Petoro. “This illustrates that our producing fields are profitable even in a market with fluctuating oil and gas 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.