Transaction Details
Equinor has completed the sale of a 40% operated interest in the Peregrino field in Brazil to PRIO, receiving a total payment of USD 2.33 billion. After adjustments for a deposit paid by PRIO and cashflow received by Equinor post-transaction, the company received USD 1.55 billion at closing.
Operatorship Transfer
With this transaction, PRIO assumes full operatorship of the Peregrino field, located in the Campos Basin east of Rio de Janeiro. Equinor will continue as a non-operated partner until the sale of the remaining 20% interest is finalized, which is subject to certain conditions precedent.
Field Significance
The Peregrino field has been a key asset in Equinor's international portfolio since production began in 2011, contributing approximately 300 million barrels of oil to the company's growth in Brazil.
Future Developments
Equinor remains active in Brazil, having recently started production from the Bacalhau field and acquired new exploration blocks in the Campos Basin. The company also signed a contract for the sale of the remaining 20% interest in the Peregrino field, with further payment expected upon closing.
