Petoro

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Petoro AS

Type	State owned
Founded	2001
Headquarters	Stavanger, Norway
Area served	Norway
Key people	Kjell Pedersen (CEO) Gunnar Berge (Chairman)
Industry	Petroleum
Revenue	NOK 177 million (2005)
Operating income	NOK 0 million (2005)
Parent	Government of Norway
Website	http://www.petoro.no

Petoro, a company wholly owned by the state of Norway, manages Norwegian offshore oil and natural gas properties, 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 2006 the 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.