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
Holding in Johan Sverdrup reduced – redetermination possible

13feb johan sverdrup c
[2 July 2015]



The 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
    [26.06.2015]
    Geir Gjervan new head of communications in Petoro

    geirgjevanGeir Gjervan (44) has been employed as new head of communications in Petoro, succeeding Sveinung Sletten  who will retire this autumn. Gjervan comes from the consultant company First House. He has a long career as information manager in the oil and gas industry, and as an adviser to the industry. Gjervan has been a press spokesman for Statoil's upstream business in Norway and head of information in Wintershall Norge. His education is within journalism and history, and he has worked in several media.  The time of taking office has not yet been decided.


      Petoro - en drivkraft på norsk sokkel
      [05.05.2015]
      Development plan for the Maria field submitted

      img 7015-2The operator, Wintershall, and partners Petoro and Centrica on May 5 sumbitted the plan for development and operations of the Maria field to the minister of oil and energy, Tord Lien. The 15.3 billion NOK field will start producing in 2018. 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 Mariadevelopment in this part of the Norwegian Sea.
      Read more: www.wintershall.no
       


        Petoro - en drivkraft på norsk sokkel
        [05.05.2015] - Press release, first quarter 2015
        Restructuring well under way, now we need to get more out of mature fields

        sverdrup-pud“We see clearly that the oil industry is taking the challenges seriously,” says CEO Grethe Moen in connection with the presentation of Petoro’s results for the first quarter of 2015. “Costs for fields in production were cut by seven per cent in the first quarter. Real efficiency improvements to achieve a substantially lower level of costs will call for hard work over a long time to come and is a necessary correction. At the same time, it’s important that new business opportunities are brought forward. Priorities must be discussed in every licence.”
        Read the press release
        Read the ​directors’ report


          Petoro - en drivkraft på norsk sokkel
          [27.03.15] - SDFI 2014:
          Annual report for 2014

          petoroannualreport2014-1Petoro's annual report for 2014 is now available on this website and can be accessed by clicking either on the link here or on the Publications tab at the top of this page. The report includes reflections from Petoro chief executive Grethe Moen on the dramatic changes experienced in 2014, the directors’ report and the accounts for both the State's Direct Financial Interest (SDFI) and Petoro AS as the management company for the SDFI
          Click here to read the report


            Petoro - en drivkraft på norsk sokkel
            Petoro has since 2001
            passed on a net cash flow of
            1500 billion NOK to the
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