The company’s strategy was revised in 2013. Its new strategy retains mature fields as a main priority. This is because such fields represent a large proportion of Petoro’s portfolio, and because investment decisions which secure the recovery of their remaining resources, and thereby their value, are time-critical.
Field development has also been elevated as a separate principal strategic topic. The background for this is Petoro’s participation in large new projects such as Johan Sverdrup as well as the insight and experience which the company has acquired from its work on mature fields and which can be applied to securing long-term and flexible solutions for new field developments.
The far north has been chosen as third main topic in the strategy. Petoro has a broad involvement in the Barents Sea through participation in a substantial number of production licences in the exploration phase and in the Snøhvit field and Johan Castberg development, where substantial value could be secured through good and forward-looking area solutions.