PRIO completes the acquisition of 40% of Peregrino Field

05 Dec 2024

The formal procedures for completing the acquisition of a 40% equity interest in the Peregrino and Pitangola fields were finalized on Thursday (5^th). As of this date, PRIO joins the consortium together with Equinor, Peregrino’s operator with a 60% equity interest. The company expects to increase its production by approximately 35,000 barrels per day.

“This is an important step for PRIO. Our intention is to try to contribute to optimizing the operation in some way, in synergy with Equinor, having the structure of the Polvo and Tubarão Martelo Cluster close to the field. Here in Brazil, Equinor does a great job on Peregrino, so it is gratifying for us to be working alongside a good operator. Besides contributing, we will try to learn from them regarding maintenance, geology, reservoir, among other aspects. It’s a two-way street,” stresses Roberto Monteiro, CEO of PRIO.