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

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Restructuring gives results – industry on the right track

[16.03.2016] - Press release, Petoro annual results 2015
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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[06.08.2015] Press release, 3rd quarter of 2015

Ambitious goals – a precondition

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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[ 04.09.2015 ]

Plan for Development and Operation for Maria approved

The 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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[21.8.2015]

Johan Sverdrup plan approved

The 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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