The company said cash flow from the State’s Direct Financial Interest in offshore assets to state coffers was cut by 15% to Nkr124.8 billion ($20.6 billion) last year from Nkr146.9 billion in 2012, as investments rose 34% year on year to Nkr34.4 billion.
Petoro said drilling of production wells accounted for about half of investments last year, with cash also being ploughed into new projects under development such as Valemon, Martin Linge, Statoil’s fast-track programme and Aasgard subsea gas compression that will boost future revenue.
However,
