The Oseberg partners have made an investment decision of NOK 10 billion in further development of the field.
Extreme prices yield record-high cash flow
[28.10.2021) - Press release - Third quarter 2021
Petoro delivered a cash flow of NOK 98 billion as of the third quarter. Cash flow for the third quarter in isolation amounted to NOK 44 billion, which is the highest single-quarter figure in Petoro's history.
PDO for Ormen Lange subsea compression
The Ormen Lange partners have made a final investment decision for a subsea compression project on one of Norway's largest gas fields. Plan for development and operation was sent to the Ministry of Petroleum and Energy today, September 20th.
Troll phase 3 in production
Today, production starts from Troll phase 3. The new wells are connected to Troll A and will extend the platform's lifetime until after 2050. Phase 3 has a balance price of less than 10 dollars and a CO2 emission of less than 0.1 kilos per barrel.
Petoro manages the State’s Direct Financial Interest and is a licensee for about 1/3 of the oil and gas reserves, with interests in 36 producing fields on the Norwegian shelf.
Petoro shall, on a commercial basis, create the greatest possible financial value from the SDFI.
Petoro has a small and flat organisation with employees who have long and broad-based experience from the petroleum industry.
Petoro is a state-owned limited company which manages the SDFI in the Norwegian oil and gas sector. These holdings comprise a third of Norway’s oil and gas reserves and associated facilities.