NEWS

Net cash flow to the government from the State’s Direct Financial Interest (SDFI) on the Norwegian continental shelf in 2010 was NOK 104 billion, up almost NOK 7 billion from the year before, Petoro reports. 

Net cash flow to the government from the State’s Direct Financial Interest (SDFI) on the Norwegian continental shelf since Petoro’s creation in 2001 has topped NOK 1 000 billion. Net income increased in 2010 by five per cent, primarily as a result of higher oil prices. 

Overall daily production averaged 1 080 000 barrels of oil equivalent (boe), a slight increase from 1 074 000 boe in 2009. 

Revenue from dry gas sales totaled NOK 68 million, compared with NOK 70.3 billion the year before. The total volume of gas sold – including third-party gas – rose by 15 per cent from 2009 to 39.5 billion standard cubic meters (scm), corresponding to 681 000 boe per day. 

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 licenses and other partnerships.