These were preceded by extensive political debate, culminating in a majority vote by the Storting (parliament) in the spring of that year. Statoil was not only to be part-privatised and listed, but would also acquire part of the state’s direct financial interest (SDFI) in Norwegian petroleum operations. The government disposed of roughly 18 per cent of its shares in Den Norske Stats Oljeselskap AS, and the company was renamed Statoil ASA.
It also secured 15 per cent of the SDFI, and the government offered a small part of this portfolio to other oil companies as well. Two new state oil companies were established. Petoro was responsible for managing the SDFI’s oil and gas volumes, while Statoil remains responsible for selling and marketing them. Gassco became the operator for the gas transport systems.
To learn more, see the article on Statoil as a red thread in Norway’s oil model .Opposition to partial privatisationTampen 2020 project launched