"We're on track to deliver yet another good annual profit from the SDFI. Good production from existing fields and new ones coming on stream have contributed to an increase in overall volumes. There is high demand for oil and gas in the European market, despite oil and gas prices being somewhat lower this year compared with the previous year," says Petoro CEO Kristin F. Kragseth.
New production from Tyrving
The Tyrving field, operated by Aker BP, came on stream in September.
"This is the kind of project we like; delivered in line with the original budget and with very low emissions, estimated at 0.3 kilos of CO
2 per barrel. Production also started five months ahead of the original schedule," Kragseth says.
Further emission reductions on the Troll field
As Troll B and C have been partly running on power from shore since September, we have taken yet another important step towards achieving the target of reducing CO2 emissions from SDFI production by 55 per cent by 2030.
"Emissions have been reduced by 250,000 tonnes of CO
2 per year, the equivalent of average emissions from around 28,000 Norwegians. Along with Troll A, which has been running on electricity since the start-up in 1996, this makes the Troll field overall very well-equipped for high value creation for many years to come," Kragseth says.
Result as of the 3rd quarter
Twelve serious incidents have been registered so far this year in the SDFI portfolio, which yields a serious incident frequency of 0.61 over the last 12 months. This is an increase from 0.55 in the same period last year. The personal injury frequency is 4.6, compared with 4.1 in the same period last year.
Net cash flow to the state from the SDFI as of the third quarter of 2024 totalled NOK 174 billion. Total production amounted to 1,053 million barrels of oil equivalent per day (kboed), an increase of 95 kboed compared with the corresponding period last year. Gas production amounted to 112 million standard cubic metres (mill. scm) per day, up 16 per cent compared with the third quarter of last year. The average realised gas price was NOK 4.06 per scm, compared with NOK 5.75 in the same period last year. Liquids production totalled 351 kboed, a reduction of 1 kboed compared with the third quarter of 2023. The average realised oil price was USD 84, compared with USD 83 per barrel in the corresponding period last year.
Press contact
Ørjan Heradstveit
Head of Communications
+47 917 78 161
orjan.heradstveit@petoro.no
