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

johan sverdrup sail away

Great opportunities on the Norwegian continental shelf

[02.08.2018] - Press Release – Second quarter 2018
The positive development on the Norwegian shelf continues. In the first half of 2018, Petoro delivered as much as NOK 56 billion to the Norwegian state; an increase of 14 per cent compared with the same period last year. “If we want to maintain high revenues, we need to see an even stronger drive for innovation in the industry,” says Petoro’s President and CEO Grethe Moen, and adds that we must constantly pursue and facilitate increased technological development.

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Photo: Statoil – Roar Lindefjell / Bo Randulff
[09.05.2018] - Press release 1st quarter 2018

Strongest start of the year since 2014

As of the first quarter, net cash flow from Petoro totalled NOK 32.5 billion, an increase of 19 per cent from the same period last year. Petoro is now entering an exciting period of historically high project activity.

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Grethe Moen - Photo: Anne Lise Norheim
[14.03.2018] - Press Release - Petoro 2017 results

Hard work yields new opportunities

Petoro is delivering NOK 87 billion to the state in 2017, NOK 21 billion more than in 2016.
"We are experiencing an economic upturn, so now we have to ensure that operations stay efficient and lay the foundation for future production by discovering more oil and gas," says Grethe Moen, President and CEO of Petoro.

 

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island

Petoro Iceland relinquishes last licence on the Icelandic shelf

Petoro Iceland AS has participated on the Icelandic shelf through three licence awards from 2013 and 2014. The two first licences were unanimously relinquished after the work commitment in the first stage was completed.

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