Core Viewpoint - Equinor has successfully sold its 40% operated interest in Brazil's Peregrino field to PRIO for a total of $2.33 billion, marking a strategic move to enhance its international portfolio by divesting mature assets and focusing on more robust opportunities [1][2][3]. Group 1: Transaction Details - The total consideration for the sale was $2.33 billion (Nkr23.47 billion), with Equinor receiving $1.55 billion at closing after adjustments for a $335 million deposit and cash flow [1][2]. - PRIO has taken full operatorship of the Peregrino field, with Equinor remaining a non-operated partner until the sale of the remaining 20% stake is finalized [2]. Group 2: Strategic Implications - The divestment is part of Equinor's strategy to high-grade its international portfolio, allowing the company to redeploy capital into assets with greater long-term value potential [3]. - Brazil remains a core area for Equinor, which has recently commenced production from its Bacalhau field and acquired new exploration blocks in the Campos basin [3]. Group 3: Production and Asset Overview - The Peregrino field has been in production since 2011, with a total output of approximately 300 million barrels and a current production rate of around 55,000 barrels per day expected for the first quarter of 2025 [4]. - The asset includes a floating production, storage, and offloading vessel supported by three fixed platforms, primarily producing heavy oil [4].