Petoro

Norway · Oil & Energy

Petoro is a Norwegian state-owned company that manages the State's Direct Financial Interest (SDFI) in the oil and gas sector. Headquartered in Stavanger, it oversees about one-third of Norway’s oil and gas reserves on the Norwegian Continental Shelf (NCS). Petoro's mission is to maximize the financial value and income from the state’s oil and gas portfolio, ensuring optimal returns for the Norwegian state. The company has three main responsibilities: managing government holdings in joint ventures related to petroleum production, monitoring Equinor’s marketing of petroleum, and overseeing financial investments linked to these assets. Petoro manages participatory interests in 44 producing fields, pipelines, and onshore facilities, and operates under strict governance and ethical guidelines. It also has a subsidiary, Petoro Iceland AS, to manage interests in Icelandic production licenses. Petoro's primary focus is on safeguarding and enhancing the state’s financial interests in petroleum activities, benefiting the national economy and contributing to the Norwegian Government Pension Fund Global. The company operates with a small, experienced workforce, emphasizing strategic oversight and efficient management.