Petoro

The Norwegian State has substantial holdings in several oil and gas fields, pipelines and land facilities linked to the Norwegian continental shelf through the State’s Direct Financial Interest (SDFI). Petoro AS manages these interests. The Company’s most important task is to ensure maximum value and achieve the highest possible income to the State from SDFI. The entire cash flow from SDFI is transferred to the Government Pension Fund Global (the Petroleum Fund).

Kristin Kragseth. Photo: Anne Lise Norheim, Petoro AS

Solid operations yield strong cash flow from the SDFI portfolio

[06.11.2024] - Press release - Third quarter 2024

Petoro has delivered a net cash flow from the State's Direct Financial Interest (SDFI) of NOK 174 billion as of the third quarter of 2024. Cash flow in the third quarter alone came to NOK 61 billion. The cash flow will be transferred to the Norwegian state in its entirety

Solid operations yield strong cash flow from the SDFI portfolio - 2024-11-06 10:00

Heidrun. Photo: Harald Pettersen, Equinor

114 billion to the state in the first half of 2024. Ownership swaps bolster the long-term strategy.

[01.08.2024] - Press release - Second quarter 2024

Petoro delivered a net cash flow from the State's Direct Financial Interest (SDFI) of NOK 114 billion as of the second quarter of 2024. Net cash flow for the second quarter alone came to NOK 54 billion

114 billion to the state in the first half of 2024. Ownership swaps bolster the long-term strategy. - 2024-08-01 10:00

Petoro AS (SDFI) and Equinor ASA to swap ownership interests

[14.05.2024]

Petoro and Equinor will implement extensive swaps of ownership interests on the Norwegian shelf. The agreement will ensure higher value creation and more efficient resource management in the companies’ activities on the Halten Bank.

Petoro AS (SDFI) and Equinor ASA to swap ownership interests - 2024-05-14 11:00

High production and good cash flow in the first quarter

[02.05.2024] - Press release - First quarter 2024

In the first quarter of 2024, Petoro delivered a cash flow of NOK 60 billion from the State's Direct Financial Interest (SDFI). This is 57 billion less than in the first quarter of 2023.

High production and good cash flow in the first quarter - 2024-05-02 10:00

SDFI facts

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 43 producing fields on the Norwegian shelf.

Results

Petoro shall, on a commercial basis, create the greatest possible financial value from the SDFI.

Results

Organisation

Petoro has a small and flat organisation with employees who have long and broad-based experience from the petroleum industry.

Organisation

Main tasks

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.

Main tasks