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
0069196 - oseberg field centre - photo %c3%98yvind hagen - statoil
Ambitious goals – a precondition

gkm - portrett
[06.08.2015] Press release, 3rd quarter of 2015

Changes to the operations of fields in the State’s Direct Financial Interest (SDFI) portfolio are moving in the right direction, reports Grethe Moen, CEO of Petoro. “A doubling in the pace of drilling on certain installations shows that it is possible to meet ambitions for efficiency improvements which halve costs. Given what we’ve seen, we still believe a great potential for improvement exists. Further progress in this direction requires a more radical approach.”
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Read the directors' report
Petoro - en drivkraft på norsk sokkel
[ 04.09.2015 ]
Plan for Development and Operation for Maria approved

maria 8000x300dpi preview med tekstThe Norwegian Ministry of Petroleum and Energy has approved the PDO for the Maria-field in the Norwegian Sea. Petoro tok over a 30 per cent share in 2011 and has in the planning phase been keen to see an efficient use of existing infrastructure as part of the Maria field development in this part of the Norwegian Sea.
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Petoro - en drivkraft på norsk sokkel
[06.08.2015] Press release, 2nd quarter of 2015
Cost trend breached, efficiency improvements still much needed

grethemoen fotoemileashley03“We see now that the cost trend has been breached for operations on several fields in our portfolio,” says Grethe Moen, president and CEO of Petoro in a comment relating to the half year results for the State Direct Financial Interest offshore Norway. “But continued efficiency gains are needed to help boost earnings and improve profitability for future projects. We haven’t seen so far that the restructuring has led to proposals for more new projects in the licences.” 
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Read the directors' report
Petoro - en drivkraft på norsk sokkel
Johan Sverdrup plan approved

0094661 - johan sverdrup field centre - photo statoil - statoilThe plan for development and operation (PDO) of the first phase of the Johan Sverdrup project in the Norwegian North Sea was approved by the Ministry of Petroleum and Energy yesterday, 20 August.
In addition, two plans for installation and operation (PIO) of transport pipelines and facilities for power from shore were given the green light.

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Petoro - en drivkraft på norsk sokkel
[2 July 2015]

Holding in Johan Sverdrup reduced – redetermination possible

13feb johan sverdrup cThe Norwegian Ministry of Petroleum and Energy announced its decision today on the division of the Johan Sverdrup field in the North Sea between the five licensees involved.
This involves a slight reduction in the share of Petoro/the State’s Direct Financial Interest (SDFI) compared with the comprise – to which Petoro was a party – reached in February between four of the five companies. The new Petoro/SDFI holding is set at 17.36 per cent.
Jan Terje Mathisen, Petoro’s vice president responsible for Johan Sverdrup, says that the 0.48 per cent reduction is a disappointment but limited in scope.
He also notes that the ministry’s decisions refers to the agreement between the four companies responsible for the February compromise, which means that each of the partners will be able to initiate a redetermination at a later date.

Petoro - en drivkraft på norsk sokkel
Petoro has since 2001
passed on a net cash flow of
1500 billion NOK to the
Visiting address: Øvre Strandgate 124, NO-4005 Stavanger
Mailing address: P O Box 300 Sentrum, NO-4002 Stavanger

Telephone: +47 51 50 20 00  /  E-mail: post@petoro.no
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