Equinor Sells Peregrino Field for USD 3.5 Billion
Deal News | May 02, 2025 | Equinor ASA
Equinor ASA's subsidiary, Equinor Brasil Energia Ltda., has entered into a significant transaction with Brazilian company Prio Tigris Ltda., a subsidiary of PRIO SA, to sell its 60% operated interest in the Peregrino field located in Brazil. The deal is valued at USD 3.5 billion, marking a strategic exit from this asset for Equinor. This transaction is part of Equinor's broader strategy to optimize its portfolio by divesting certain assets and focusing on core activities. The Peregrino field, an offshore oil field, has been a crucial component of Equinor's operations in Brazil. The sale reflects Equinor's commitment to reallocating resources and ensuring strategic alignment with its future objectives. The buyer, Prio Tigris Ltda., represents a significant player in the Brazilian energy sector, aiming to expand its operational footprint through this acquisition.
Sectors
- Energy
- Oil & Gas
Geography
- Brazil – The Peregrino field, which is the asset being sold, is located in Brazil. The acquiring company, Prio Tigris Ltda., is also a subsidiary of a Brazilian company.
- Norway – Equinor ASA is a Norway-based energy company involved in this transactional activity.
Industry
- Energy – The article involves the sale of an oil field, which is a significant asset within the energy industry, particularly pertaining to oil and gas exploration and production.
- Oil & Gas – Both Equinor ASA and the Peregrino field are directly linked to the oil and gas sector, engaging in exploration and production activities.
Financials
- USD 3.5 billion – The total value of the transaction for the sale of Equinor's 60% interest in the Peregrino field.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Equinor ASA | Selling Company | Company | A Norwegian energy company involved in oil and gas exploration and production, including renewable energy sectors. |
| Equinor Brasil Energia Ltda. | Subsidiary, Selling Entity | Company | A subsidiary of Equinor ASA, managing its Brazilian exploration and production activities. |
| Prio Tigris Ltda. | Buying Company | Company | A Brazilian company, subsidiary of PRIO SA, involved in the acquisition of the Peregrino field. |
| PRIO SA | Parent Company of Buyer | Company | A Brazilian energy company focusing on the exploration and production of oil and gas. |