Value of Norway's oil and gas stakes down 34% since 2014

Jun 14, 2016 12:00 AM

The Norwegian state's direct financial interest (SDFI) in oil and gas licenses on the Norwegian continental shelf has decreased by 34 percent since 2014 as low oil prices have taken a toll, an external evaluation done for the Oil Ministry showed on Monday.

'The SDFI portfolio has since last valuation as of (January 1) 2014 been subject to weak oil and gas prices, reduced free cash flow, but also lower costs,' Rystad Energy, the consultancy behind the report, said.

The report showed the value of the SDFI had dropped to 810 billion Norwegian crowns ($97.92 billion) from a previous estimate of 1.23 trillion crowns.

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