Its roles Owner Investor / Financier
Petoro AS is Norway’s state-owned company that manages the State’s Direct Financial Interest (SDFI) in petroleum activities on the Norwegian continental shelf. Established in 2001 and headquartered in Stavanger, it represents the state as a non-operating partner across a broad portfolio of oil and gas licenses, producing fields, pipelines, and processing facilities.
Petoro safeguards the state’s financial interests by overseeing operators, participating in investment decisions, and ensuring efficient and safe resource development. While it does not operate fields, it monitors production, reserves, costs, and HSE performance, and follows up the marketing and sale of the state’s natural gas carried out by Equinor under separate instructions. Petoro holds interests in several of Norway’s largest petroleum assets and infrastructure, making it a significant contributor to national petroleum revenues.
chemXplore tracks 8 projects involving Petoro, of which 7 are active.
Besides these 7, the record holds 1 completed project.
Closest to start-up first.
1 more active project and the 1 that is completed, on hold or cancelled are in the record. See all 8 in chemXplore →
Gas found at Gullfaks South: 0.5–1.6 million standard cubic metres of recoverable oil equivalents (3.3–10.3 million boe), drilled as a sidetrack to a production well.
Cost estimate raised to NOK 26.5bn (2026 value); onshore compression set for 2029, electrification 2030; project ~60% complete and will cut CO₂ by 850,000 t/yr.
Stage 2 began production on 22 August, accelerating 55 billion scm from Troll West, coming online early and several hundred million NOK below the original cost estimate.
Revenue $2.76bn; net income $363m; Subsea inbound $2.5bn; cash from operations $548m and free cash flow $488m; $440m returned to shareholders.
Design and manufacture of subsea production systems and controls for three brownfield tie-backs; rigid pipe installation on a fourth; contracts worth $250–500m, booked in Q2 2026.
Contracts are part of a coordinated first subsea wave to speed delivery and cut costs by standardising equipment and processes across multiple developments.
Public consultation opens on the EIA programme for a possible Wisting FPSO development in the Barents Sea; consultation runs 16 weeks and FID is targeted end-2027.
Subsea tieback will add about 11 billion Sm3 of gas, cost just over NOK 4 billion and target production start as early as 2028.
active all projects
The 6 sharing the most projects, of 9.
