Equinor sells the Peregrino field for USD 3.5 billion

Core Insights - Equinor Brasil Energia Ltda. has agreed to sell its 60% operated interest in the Peregrino field to PRIO Tigris Ltda. for a total consideration of USD 3.35 billion, plus a maximum of USD 150 million in interest [1][8] - The transaction is structured in two parts: USD 2.233 billion for the acquisition of 40% and operatorship, and USD 951 million for the remaining 20%, with additional contingent payments [8] Company Strategy - The sale is part of Equinor's strategy to optimize its international portfolio through asset divestments and acquisitions, while still maintaining a strong presence in Brazil [4] - Equinor aims to increase its equity production in Brazil to nearly 200,000 barrels per day by 2030 through ongoing projects like Bacalhau and Raia gas [3] Operational Details - Equinor has operated the Peregrino field since 2009, producing approximately 300 million barrels of oil, with current production at around 55,000 barrels per day [5] - PRIO will take over operations after the transaction closes, with Equinor managing the field until that point [2][6] Future Outlook - Equinor continues to focus on its projects in Brazil, including the Bacalhau field and the Serra da Babilonia renewable hybrid project, indicating a commitment to growth in the region [7]