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Petoro

Norway

Address: Øvre Strandgate 124 4005 Stavanger

Tel: +47 51 50 20 00

Web: http://www.petoro.no/hjem

Company description

The objects of Petoro are, on behalf of the state and at the expense and risk of the state, to hold the responsibility for and to attend to the commercial aspects related to the state's direct involvement in petroleum activities on the Norwegian continental shelf, and business associated herewith. Petoro serves as the licensee for the state's direct financial interest (SDFI) in Norwegian petroleum operations. The company has the same rights and obligations as its partners in production licences and other partnerships. The SDFI portfolio managed by Petoro is the largest on the Norwegian continental shelf (NCS), embracing 90 production licences and 18 partnerships and companies. These holdings represent more than a third of Norway's petroleum reserves and over a quarter of total Norwegian oil and gas production. As a result, Petoro's aim is to become "the best partner" in the industry through collaboration with partners in the licences and partnerships.

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