Equinor Sells 60% Stake in Brazil’s Peregrino Field to PRIO for $3.5 Billion

Equinor ASA ( (GB:0M2Z) ) has shared an update.

Equinor Brasil Energia Ltda., a subsidiary of Equinor, has agreed to sell its 60% operated interest in the Peregrino field in Brazil to PRIO Tigris Ltda., a subsidiary of PRIO SA, for up to USD 3.5 billion. This transaction is part of Equinor’s strategy to optimize its international portfolio, allowing the company to focus on other key projects in Brazil, such as Bacalhau and Raia, while maintaining Brazil as a core market. The sale will transfer operatorship of the Peregrino field to PRIO, which has been a partner since acquiring a 40% interest last year. The deal is subject to regulatory approvals and will be completed in two payment tranches.

More about Equinor ASA

Equinor ASA is a multinational energy company primarily involved in the exploration, production, and development of oil and gas resources. The company focuses on international operations with significant projects in Brazil, including the Bacalhau field and the Raia gas project. Equinor aims to produce close to 200,000 barrels per day in Brazil by 2030.

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