Prio concludes acquisition

PRIO concludes the acquisition of Sinochem Petroleum Netherlands for $1.915 billion. This includes a 40% stake in the Peregrino and Pitangola fields in the Campos Basin, with the remaining 60% held by Equinor.

The transaction boosts PRIO’s production capacity by approximately 35,000 barrels per day—a 50% increase from its current average of 75,000 boe/d.