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: Elisabeth Tønnessen

Kragseth in place at Petoro

[01.06.2021]
"I'm looking forward to getting to work and meeting all my new colleagues. Until now, I've observed Petoro from the outside, and I've seen what the organisation has contributed to the joint ventures. I have a lot of respect for the work Petoro does by actively seeking constructive solutions. My goal is for us to continue the balance between challenging established ideas and finding good solutions for increased value creation," says Kristin Kragseth, who has been formally installed as the new CEO of Petoro as of today, 1 June.
Petoro's 20th anniversary
Petoro's 20th anniversary
[10.05.2021]
Petoro was established on 9 May 2001 as a result of the partial privatisation of Statoil. The mandate from the Storting (parliament) was clear, the new company should create the greatest possible value and achieve the highest possible revenues for the state on a commercial basis.
26 billion to the state  – strong profit increase from Petoro
26 billion to the state – strong profit increase from Petoro
[05.05.2021] - Press release - First quarter 2020
Petoro has delivered a cash flow of NOK 26 billion to the state as of the first quarter of 2021. This corresponds to the cash flow from the two last quarters in 2020. Oil and gas prices rebounded significantly from the end of last year and contributed to this improvement. The cash flow is now on par with the period prior to the pandemic.
Development plans submitted for electrification of Troll Vest
Development plans submitted for electrification of Troll Vest
[23.04.2021]
The plan for development and operation for electrifying Troll Vest was submitted to the Minister of Petroleum and Energy on 23 April. The plan covers electrification of the Troll B and C platforms in the North Sea. Annual emission reductions will be close to half a million tonnes of CO2, corresponding to more than three per cent of the petroleum industry's emissions on the Norwegian shelf and about one per cent of total emissions in Norway. NOX emissions from the field will be reduced by about 1,700 tonnes per year.
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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 36 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.