Equinor completes $2.33bn sale of 40% stake in Peregrino field

Equinor has completed the merchantability of its 40% operated involvement successful Brazil’s Peregrino tract to section lipid and state institution PRIO, for a full information of $2.33bn (Nkr23.47bn).

With this transaction, PRIO has assumed afloat operatorship of the asset.

After accommodation for a $335m (1.77bn reais) deposit paid by PRIO and currency travel received by Equinor aft the transaction’s effectual date, Equinor received $1.55bn astatine closing.

In May this year, subsidiaries of Equinor and PRIO signed agreements for the 60% involvement successful Peregrino with operatorship.

Equinor volition proceed arsenic a non‑operated spouse until the merchantability of the remaining 20% is completed, and a further outgo is expected astatine that closing.

Equinor planetary exploration and accumulation enforcement vice-president Philippe Mathieu said: “With the closing of this portion of the transaction we are handing implicit operatorship of Peregrino to PRIO and realising important worth for Equinor.

“The woody is portion of our ongoing effort to high-grade our planetary portfolio, by divesting much mature assets to redeploy superior to assets with greater robustness and much semipermanent worth potential.

“Brazil remains a halfway country for Equinor and conscionable past period we started accumulation from Bacalhau, our largest planetary offshore field, and acquired 2 breathtaking exploration blocks successful the Campos basin.”

The Peregrino tract is located successful the Campos Basin, eastbound of Rio de Janeiro, Brazil.

The tract started accumulation successful 2011, with a reported full output of astir 300 cardinal barrels since its start‑up.

The plus comprises a floating production, retention and offloading vas supported by 3 fixed platforms, and produces dense oil.

Equinor said that its stock of accumulation successful the Peregrino tract for the archetypal 4th of 2025 was astir 55,000 barrels per day.

Equinor elder vice-president and state manager for Brazil Veronica Coelho said: “I privation to explicit gratitude to our employees, partners and suppliers for their publication to the occurrence of Peregrino implicit the years.

“Equinor’s travel successful Brazil continues with afloat momentum with Bacalhau, our Raia state project, our concern with Petrobras successful Roncador and our increasing exploration and renewables portfolio.”

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