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

Photo: Statoil – Roar Lindefjell / Bo Randulff

Strongest start of the year since 2014

[09.05.2018] - Press release 1st quarter 2018
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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Read the Board's quarterly report
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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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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