2013-02-26 10:04:31 -

Kjell Pedersen, Petoro:
2012 second-best year, staffing drilling rigs will be challenging

The State's Direct Financial Interest (SDFI) on the Norwegian continental shelf
(NCS) had one of its two best-ever years in 2012. According to the Petoro press
release, accounts show that the net cash flow to the government was NOK 146.9
billion, almost 15 per cent higher than in 2011.

Petoro's president and CEO Kjell Pedersen is satisfied with strong 2012-reults.
Of important development projects in addition to the Johan Sverdrup field, he
points to the Skrugard field concept selection bringing oil to far northern
shores. Pedersen sees the Barents Sea and the far north emerging more clearly as
the next big province for developing Norway's petroleum sector. At the same time
he sees the very high activity level offshore   Norway as a big challenge in terms
of manning many new drilling rigs with competent people. He urges employers and
employees to sit down together to find remedies, and he suggests that such a
discussion even needs to be about work schedules.


For press release and the Board of Directors' annual report, see www.petoro.no
(English version)




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Source: Petoro via Thomson Reuters ONE
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