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 $2.33 billion for its 40% operated interest.
"The deal is part of our ongoing effort to high-grade our international portfolio, by divesting more mature assets to redeploy capital to assets with greater robustness and more long-term value potential. Brazil remains a core area for Equinor and just last month we started production from Bacalhau, our largest international offshore field, and acquired two exciting exploration blocks in the Campos basin," says Philippe Mathieu, executive vice president for Exploration and Production International at Equinor.
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 300 million 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.