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

Grethe Moen - Photo: Anne Lise Norheim

Hard work yields new opportunities

[14.03.2018] - Press Release - Petoro 2017 results
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.


Read the press release
Read the directors' report
Read the annual report

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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Jonny Mæland. Foto: Petoro
(02 01 2018) - New head of finance

New head of finance

Jonny Mæland took up his position as chief financial officer in Petoro on 2 January 2018, and will become a member of Petoro’s management team.

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snorre pud - overlevering 21 12 2017
(21 12 2017) PDO submitted for Snorre expansion

PDO submitted for Snorre expansion

The Plan for Development and Operation (PDO) of the Snorre Expansion Project was submitted to the Ministry of Petroleum and Energy on Thursday, 21 December, at an event in Stavanger. The project will entail an expansion of the Snorre field to include a seabed solution.
The development solution consists of six seabed templates with a total of 24 well slots. The templates will be positioned directly above pinpointed locations with the highest potential for remaining resources. A total of 11 production wells and 11 injection wells are planned.