Equinor announced that the new platform in Brazil Peregrino C produced its very first oil in 10 October 2022. Peregrino phase 2 will extend the Peregrino field life to 2040. Phase 2 adds 250-300 million barrels of oil, while at the same time halving expected CO2 emissions per barrel over the field remaining lifetime. Peregrino phase 2 consists of a new platform with drilling facilities and living quarters tied in to the existing Peregrino FPSO, as well as a new pipeline importing gas to the platform for power generation. The project was on schedule for planned start-up late in 2020 when Covid-19 hit the project hard, leading to cuts in the workforce several times in the crucial and normally labor-intensive hook-up phase. Still, Peregrino phase 2 is delivered within the original USD 3 billion cost estimate. In line with Equinor’s low carbon strategy, measures have been taken to reduce CO2 emissions from the Peregrino field. By switching from diesel to gas for power generation on Peregrino C, phase 2 will avoid 100,000 tonnes of CO2 emissions from the Peregrino field per year. This will also reduce costs and simplify logistics in the operational phase. Located in the Campos Basin, the Peregrino field started production in 2011. Equinor is the operator (60%), with Sinochem (40%) as partner in the field. Peregrino Phase 1 consists of a floating production vessel supported by two wellhead platforms: Peregrino A and Peregrino B. Peregrino is the largest field operated by Equinor outside Norway and the first of a series of major field developments in Brazil. The Peregrino field has so far produced more than 210 million barrels of oil since the field came on stream in 2011.