Vision, strategy and values

Petoro’s purpose is to manage the commercial aspects related to the State’s Direct Financial Interest (SDFI), on behalf of the State and for the State’s account and risk. The objective of the activity is to ensure maximum value and achieve the highest possible income to the State from SDFI.

Our vision is to be a driving force on the Norwegian shelf. Petoro shall work to increase the competitiveness of the portfolio by ensuring cost-effective solutions, minimal uncertainty regarding the reserve base and sound operations.

Petoro emphasises good interaction with other licensees, the supplier industry, technology communities, authorities and the broader society.

Petoro is not an operator, but looks after the State’s participating interests in the petroleum activity. Petoro has the same rights and obligations as other licensees on the Norwegian shelf.

The Company’s opportunity to create values depends on close cooperation and the ability to influence operators and other partners.

Petoro devotes considerable attention to further developing and strengthening the competitiveness of the Norwegian shelf. We prioritise in-depth efforts on selected fields, in addition to promoting a comprehensive approach in our efforts to manage the SDFI portfolio. 

Petoro manages the State's Direct Financial Interest (SDFI). The Company's overarching goal for managing the SDFI portfolio is to create the greatest possible values and achieve the highest possible revenues for the Norwegian state.

Petoro has three main duties:

• Management of the state's participating interests in joint ventures where the state has such interests at any given time
• Following up Equinor's marketing and sale of the petroleum produced from the state's direct participating interests, in line with Equinor's marketing and sale instructions
• Financial management, including accounting, for the state's direct participating interests

Petoro shall be a driving force on the Norwegian shelf and shall prioritise its efforts toward selected areas where the company sees a potential for increasing and/or securing the value of the portfolio.

The strategy takes a point of departure in the company's principal goals and mandate, and includes value creation opportunities where Petoro can achieve the greatest impact through proactive efforts on its own and in concert with other players.
 

Three strategic priorities have been chosen, with associated strategic goals:

• Mature fields - where the goal is to create more investment opportunities
• Area development - where the goal is to find solutions across the portfolio
• People and nature - where the goal is to safeguard our surroundings