Prio SA Ordered to Halt Oil Output from Peregrino FPSO

Brazil's oil regulator has ordered the Peregrino FPSO to halt output, affecting Prio SA's operations. Prio is a Brazil-based holding company specializing in efficient reservoir management and redevelopment of mature fields. Its assets include the Tubarao Martelo Field and Wahoo exploratory block in the Campos Basin. The halt in output may impact Prio's operations and production levels.

Brazil's oil regulator, ANP, has ordered the Peregrino FPSO to halt output, citing the need for improvement in risk management documentation and the unit's deluge system. This order directly impacts Prio SA, a Brazil-based holding company specializing in efficient reservoir management and redevelopment of mature fields. Prio SA operates through various subsidiaries, including Petro Rio O&G Exploracao e Producao de Petroleo Ltda and PRIO Bravo Ltda.

The Peregrino FPSO is currently operated by Norway's Equinor and is set to become the operator after Prio SA agreed to buy Equinor's stake in the oil field earlier this year. The halt in output is expected to take between three and six weeks, according to a securities filing by Prio SA. The impact of this decision on Prio SA's operations and production levels remains unclear, as the company has not detailed the potential consequences.

Prio SA's primary assets include the Tubarao Martelo Field, which produces approximately 10,000 barrels of oil per day through six interconnected wells to FPSO Bravo, and the Wahoo exploratory block in the Campos Basin, with the potential to produce more than 125 million barrels in the pre-salt. The halt in output at the Peregrino FPSO may affect these production levels and the company's overall operational efficiency.

Investors and financial professionals should closely monitor the situation as it develops, as any disruptions in production could have significant implications for Prio SA's financial performance and stock price.

References:
[1] https://www.marketscreener.com/news/brazil-oil-regulator-orders-peregrino-fpso-to-halt-output-prio-says-ce7c51dfd089ff20
[2] https://www.tradingview.com/news/reuters.com,2025:newsml_S0N3U200N:0-brazil-oil-regulator-orders-peregrino-fpso-to-halt-output-prio-says/