The Norwegian state’s direct financial interest (SDFi) in oil and gas licences on the Norwegian Continental Shelf (NCS) has decreased by more than a third in the past two years as low oil prices have taken a toll.
According to an external evaluation done for the Oil Ministry the report showed the value of SDFI has dropped to 810billion Norwegian crowns from a previous estimate of 1.23trillion crowns.
Rystad Energy, who completed the report, said: “The SDFI portfolio has since last valuation as of January 1st 2014 been subject to weak oil and gas prices, reduce free cash flow, but also lower costs.”
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