Petoro’s management of substantial assets on behalf of the Norwegian government calls for good corporate governance which fulfils the expectations of its stakeholders and society at large. The portfolio of the State’s Direct Financial Interest (SDFI) embraces a third of Norway’s oil and gas reserves. Total production is expected to remain at an annual average of roughly one million barrels of oil equivalent per day (boe/d) until 2022.

The company’s governance system builds on the Norwegian code of practice for corporate governance to the extent that the code’s recommendations are relevant to Petoro’s business and the framework established by the company’s form of organisation and ownership. Tailored to the nature of the business, the governance system satisfies the requirements for corporate governance specified in the government’s financial regulations. The governance system simplifies the availability of management information and helps to keep attention concentrated on the company’s performance and risk picture at all times. Petoro reports on the follow-up of its corporate social responsibility (CSR) in a separate chapter of this report.
��   
Petoro has a values base which is integrated in its business activities. The purpose of these values is to provide the company and its employees with a shared basis for attitudes and actions in Petoro.