company_name = Petoro AS
company_type = State owned
foundation = 2001
key_people = Kjell Pedersen (CEO)
industry = Petroleum
revenue = NOK 177 million (2005)
operating_income = NOK 0 million (2005)
Government of Norway
homepage = http://www.petoro.no
Petoro, a company wholly owned by the state of
Norway, manages Norwegian offshore oil and natural gasproperties, State's Direct Financial Interest(SDFI), on behalf of the government. The company functions as a manager for the government and does not directly own the licences. The company also has a control function surveying StatoilHydro's production on behalf of the government. The company is not an operator of any fields.
The company was established in 2001 though SDFI has existed from the dawn of the Norwegian oil era. As of
1 January 2006the value of the portfolio was NOK 875 billion. In 2005, the company produced 1.2 million barrels of oil equivalents per day and had an operating income of NOK 113 billion.
* [http://www.petoro.no Corporate website]
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