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: Ella Bye/OED

PDO for Ormen Lange subsea compression

[20.09.2021]
The Ormen Lange partners have made a final investment decision for a subsea compression project on one of Norway's largest gas fields. Plan for development and operation was sent to the Ministry of Petroleum and Energy today, September 20th.
Troll phase 3 in production
Troll phase 3 in production
[30.08.2021]
Today, production starts from Troll phase 3. The new wells are connected to Troll A and will extend the platform's lifetime until after 2050. Phase 3 has a balance price of less than 10 dollars and a CO2 emission of less than 0.1 kilos per barrel.
54 billion kroner for the State – oil and gas will remain important as Norway’s position as an energy nation evolves
54 billion kroner for the State – oil and gas will remain important as Norway’s position as an energy nation evolves
[30.07.2021] - Press release - Second quarter 2021
Petoro delivered a cash flow of NOK 54 billion per the 2nd quarter of 2021. This is an increase of 20 billion compared with the same period last year. "The cash flow from Petoro in the first six months of 2021 nearly surpassed the whole of 2020 put together," says CEO Kristin Kragseth. "This is due to a substantial increase in prices, increased demand, as well as good, safe operations."
Development plan for Kristin Sør handed over to the Government
Development plan for Kristin Sør handed over to the Government
[30.06.2021]
Petoro, together with the licensees Equinor, Vår Energi and Total Energies, has decided to develop the Kristin Sør field. On June 30, the partners handed over the development plan to State Secretary Tony C. Tiller.
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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.