Revised strategy and new CEO
Grethe Moen took over as chief executive in June 2013.
The company’s strategy was revised during the year. Mature fields have been retained as a main priority. These represent a large part of Petoro’s portfolio, and investment is time-critical for securing the recovery of their remaining resources and thereby their asset value. Something has been achieved, but much remains to be done.
Field development has been elevated to a separate main strategic topic. The commitment to Johan Sverdrup in 2013 related to promoting a unified development of the discovery up to a choice of concept in February 2014.
The far north has been selected as a third main priority for Petoro as a result of big exploration activity and discoveries in important frontier areas with broad SDFI participation.