Equinor achieves production of 110,000 barrels per day in Peregrino

By Equinor

June 1, 2023

This is a machine translation of the press release originally published in Portuguese

The Peregrino field, in the Campos Basin, reached production of 110,000 barrels of oil per day (bpd) this year. The mark is the maximum processing capacity of the FPSO – Floating Production, Storage and Transfer Unit of the asset and was reached through investments in technologies and infrastructure. Peregrino is operated by Equinor (60%), which has Sinochem (40%) as a partner in the field. Peregrino is Equinor's first asset in Brazil and is the largest producing field operated by the company outside Norway. Since 2011, the year production began in the field, more than 220 million barrels have been safely produced.

“Thanks to the effort and dedication of many professionals, after seven months of operation in Phase 2 of Peregrino, we reached this important milestone for our company. This field tells the story of Equinor in Brazil and it is very rewarding to witness its success not only here, but also its representativeness in the company's global portfolio. This milestone is also a reflection of the way in which we apply our strategic pillars in conducting our operations, ensuring the safety of our employees, creating local value and acting to significantly reduce emissions from our operations”, says Veronica Coelho, president of Equinor in Brazil.

After an extensive maintenance program, upgrades and repairs to the FPSO and installation of a new platform, Peregrino C, in October 2022 Phase 2 of the field produced its first oil. The second phase extended the life of the asset through 2040 and will add 250 to 300 million barrels of oil to the field, while halving CO2 emissions per barrel over the remaining life of the asset.

Initiatives to increase recovery

In Peregrino, technology and innovation are important allies for increasing oil recovery from the reservoirs and contributed to the milestone of 110,000 bpd. The field has a strategic plan for Increased Oil Recovery (IOR) – Advanced Oil Recovery, and opportunities to optimize and increase production are constantly evaluated.

“At Equinor, our priority is the safety of people and our operations. Reaching the mark of 110,000 barrels, after investing in technologies and going through a deep process of improvement in the asset, is, without a doubt, operating efficiently, safely and in a more sustainable way”, says Raul Portella, Vice President of Operations at Equinor in Brazil.

50% reduction in carbon emissions

In September 2022, Equinor implemented its gas import project in the Peregrino field, replacing the use of diesel with natural gas as an energy source for field operations. The gas is delivered through Petrobras' Rota 2 gas pipeline.

The initiative is capable of preventing 100 thousand tons of CO2 emissions from the field per year, about half of the emissions per barrel of oil produced, through an 80% reduction in diesel consumption.