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

Erling Bergerød accepted the price on behalf of Petoro.

Åsgard Licensees Awarded the NPD's IOR Prize

The Norwegian Petroleum Directorate (NPD) awarded its Improved Oil Recovery (IOR) prize to Åsgard licensees at ONS 2016. The citation emphasized that through Åsgard subsea compression, the licensees have demonstrated how creativity, persistence and willingness to take risks, both in terms of the use of methods and technology, can increase the recovery of oil and gas beyond previous expectations

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oseberg field centre-photo-harald pettersen-statoil
[04.08.2016] - Press release, 2nd quarter of 2016

Oil industry’s future depends on sustainable change in efficiency

Change is continuing on the Norwegian continental shelf (NCS). Part of this transformation includes a drive to enhance efficiency. Where drilling is concerned, that has yielded visible results, but the positive trend from 2015 is now levelling out.
Further improvements are necessary, and Petoro would again emphasise that the industry requires lasting structural transformation.

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Read the directors' report

Brian Bjordal elected new board member

At the general meeting 15. June 2016 Brian Bjordal was elected as new member and deputy chair for the board of Petoro AS.

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[16.03.2016] - Press release, Petoro annual results 2015

Restructuring gives results – industry on the right track

Despite a challenging year, cash flow from the State’s Direct Financial Interest (SDFI) in the Norwegian oil and gas sector came to a substantial NOK 94 billion for 2015. Restructuring has so far yielded promising results in the necessary transformation of the industry.

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Read the directors' report
Read the annual report