The value of the SDFI portfolio increased by NOK 540 billion
The Troll field is the most important contributor from the SDFI portfolio. Photo: Øyvind Gravås/Even Kleppa, Equinor.
The state's direct financial interest (SDFI) managed by Petoro is as of 1 January 2022 valued at NOK 1584 billion according to a valuation carried out by Rystad Energy on behalf of the Ministry of Trade, Industry and Fisheries.
This is an increase of NOK 540 billion since the previous valuation in 2020. In the same period, Petoro has delivered a cash flow from the portfolio of NOK 245 billion to the Norwegian state.
The largest contributor to the increase in value is due to higher oil and gas prices, but there has also been an increase in resources in the portfolio as a result of new projects and reduced investment estimates. On the other hand, there has been an increase in operating costs which is primarily due to higher power prices and CO2 tax.
Rystad Energy has also made an assessment of Petoro's contribution to creating added value from the portfolio. Rystad Energy has documented each individual contribution through interviews, analyzes and own calculations and has an estimate of value-added contribution in the area of NOK 7-13 billion. The report states that: "Overall, Rystad Energy recognizes the added value contributions from Petoro, and believes that Petoro does an important and good job of managing the state's interests."