Equinor has closed the sale of a 40% operated interest in the Peregrino field in Brazil to PRIO. Following this transaction, PRIO assumes full operatorship of the field.
Equinor has received a total payment of US$2.33bn for its 40% operated interest. After adjustment for a deposit paid by PRIO and cashflow received by Equinor after the effective date of the transaction, Equinor has received US$1.55bn at closing. The deposit of US$335m paid by PRIO at signing relates to both the 40% and 20% transactions.
The Peregrino field, located in the Campos Basin east of Rio de Janeiro, has been a cornerstone of Equinor’s international portfolio since production began in 2011. Over the years, the field has produced approximately 300m barrels of oil and has been a significant contributor to Equinor’s growth in Brazil.
In May 2025, Equinor also signed a contract for the sale of the remaining 20%, which is subject to certain conditions precedent. Equinor will continue as a non-operated partner until the closing of the remaining 20% share is completed. A further payment is expected at closing of that transaction.
For more information visit EICDataStream https://eicdatastream.the-eic.com/search/project/693696/Peregrino-Heavy-Oil-Project-Phase-2-