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Unformatted text preview: nd the other becoming part of the State's Direct Financial Interest (SDFI)
in petroleum operations. The SDFI is an arrangement in which the state
owns interests in a number of oil and gas fields, pipelines and onshore
facilities. The government decides when production licences are awarded
and the size varies from field to field. As one of several owners, the state
pays its share of investments and costs, and receives a corresponding
share of the revenue from the production licence. The Storting decided in
the spring of 2001 that 21.5% of the SDFI's assets could be sold. 15%
were sold to Statoil and 6.5% to other licensees. The sale of SDFI shares
to Statoil was seen as an important element on the way to a successful
listing and privatisation of Statoil. Statoil was listed in June of the same
year. Petoro was established in May 2001 as a state-owned limited
company to manage the SDFI on behalf of the state.
The SDFI has a direct financial interest in 114 production licenses.
The 10 larges...
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- Summer '14