Equinor, a global energy company that has been in Brazil for 18 years, has just reached a new milestone for its operation in the country: 200 million barrels produced in the Peregrino, BC field.

Equinor's first operating asset outside Norway, Peregrino started production in 2011 and will begin Phase 2 of the project by the end of 2020 with the installation of a third platform, which will increase reserves by 260 million barrels of oil. The Pilgrim crew is 100% Brazilian. The expansion of the project will also extend Peregrino's life for another 20 years and will generate over 350 new offshore and onshore jobs.

Peregrino is among the ten largest fields in operation in Brazil, according to data from the National Agency of Oil, Natural Gas and Biofuels (ANP). The field has an estimated reserve of 670 million barrels of recoverable oil and currently produces about 60,000 to 80,000 barrels of oil per day. Equinor has a 60% stake, in partnership with Sinochem, which has 40%.

As one of Brazil's most challenging fields, Peregrino has reached milestones along its path. When Equinor began operating, the company was able to extract the second heaviest oil produced in Brazil. Gradually, the field recovery factor increased, exceeding the initial expectation of 10% and rising to 16%. The company intends to further increase this percentage.

"We have a lot to celebrate with this milestone reached at Peregrino: 200 million barrels safely produced in a field that many believed could not be developed," says Margareth Øvrum, CEO of the company in Brazil.

About Equinor - Equinor is an international energy company based in Norway with operations in over 30 countries. Since 1972, it has been operating, developing and producing oil and gas on the Norwegian continental shelf, where it is the leading operator. Formerly known as Statoil, it is among the largest offshore operators in the world and has a growing presence in renewable energy.

Present in Brazil since 2001, Equinor has a strong presence in the country, considered one of the three main areas of the company worldwide and one of the priority areas for long term growth. Equinor is the country's largest international operator by volume of production, averaging approximately 100,000 barrels of oil per day.