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25 per cent higher earnings in 2011

Net income to the government from oil and gas activity on the Norwegian continental shelf (NCS) was in 2011 up 24 per cent from the year before.

Net cash flow to the government from the State’s Direct Financial Interest (SDFI) on the Norwegian continental shelf (NCS) was NOK 128.1 billion in 2011, up from NOK 103.6 billion the year before, according to a report from Petoro. *)

SDFI reserves rose by a net 601 million barrels of oil equivalent (boe) from 2010, the biggest increase since the Ormen Lange field opened in 2003.

Combined with major discoveries, this can help to maintain SDFI production at its present level of about one million boe per day for the next 10 years.

*) Petoro is a company which main objective it is to maximise the economic value of the state's oil and gas portfolio on the basis of sound business principles.

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