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 10 projects involving Petoro, of which 9 are active.
Besides these 9, the record holds 1 completed project.
Closest to start-up first.
3 more active projects and the 1 that is completed, on hold or cancelled are in the record. See all 10 in chemXplore →
Front-end engineering and design study for the production-vessel topsides will involve about 250 people, includes an EPma option; concept selection by end‑2026 and FID planned late‑2027.
Partial electrification cuts ~330,000 tonnes CO₂/yr; TWEL will finish after commissioning the first electric export compressor on Troll C and omit the second to avoid up to 21 months outage, freeing ~2.3 bcm gas in 2027–28.
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.
active all projects
The 6 sharing the most projects, of 11.
