“Behind us lies a strong first half-year characterised by high value creation. Strong operational performance and high energy prices have generated substantial revenues for society, while important decisions have been taken to further develop the resource base in our portfolio,” says Kristin F. Kragseth, President and CEO of Petoro.
Production from the SDFI portfolio remained high during the first part of 2026. At the same time, activity levels were strong across exploration, drilling and the development of both new discoveries and existing fields.
Several important decisions made during the first half of the year provide the foundation for future production and increased value creation from the Norwegian Continental Shelf. In the Troll area, the concept has been selected for the Ringvei Vest project, and an investment decision has been made for the TWIN project, both of which will help maintain a high level of gas production from Troll. At Gjøa, the Plan for Development and Operation (PDO) for Gjøa Nord was submitted, while Dvalin Nord, tied back to Heidrun, commenced production ahead of schedule. Common to all these projects is their reliance on existing infrastructure, contributing to improved resource utilisation and the profitable development of the Continental Shelf.
“These projects demonstrate how new resources can be developed around established hubs. This strengthens the utilisation of existing infrastructure, extends the lifetime of key facilities, and secures production and value creation for many years to come,” says Kragseth.
The results for the first half of the year were achieved in a market characterised by geopolitical uncertainty, volatile energy prices and increasing costs.
“In a market marked by geopolitical tensions and greater uncertainty, strong operational performance, robust investment decisions and a long-term perspective become even more important. The results from the first half of the year demonstrate that we are both generating substantial revenues for society today and laying the foundation for long-term value creation,” says Kragseth.
Result as of the 1st half of 2026
Net cash flow to the state from the SDFI portfolio amounted to NOK 137.5 billion in the first half of the year. Total production was 1,060 thousand barrels of oil equivalent per day (kboepd), an increase of 26 kboepd compared with the same period last year.
Gas production was 109 million standard cubic metres (million Sm³) per day, in line with the first half of last year. The average realised gas price was NOK 5.18 per Sm³, compared with NOK 5.48 per Sm³ in the same period last year.
Liquids production was 375 kboepd, an increase of 22 kboepd compared with the first half of 2025. The average realised oil price was USD 96 per barrel, compared with USD 71 per barrel in the corresponding period last year.
For further information, please refer to our half-year report.
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