SAO PAULO, Sept 26 (Reuters) - Brazilian oil firm Prio (PRIO3.SA) , opens new tab said on Thursday it has reached an agreement to purchase a stake in the Peregrino oil field for $1.92 billion from China's oil and chemicals firm Sinochem [RIC:RIC:SASADA.UL].

In a securities filing, Prio said the parts have started the process of signing the deal's documents, adding it should be concluded on Friday.

The Brazilian firm had announced on Wednesday a non-binding agreement for the deal, after newspaper Folha de S.Paulo had reported that the firm was looking to close this week a deal valued at as much as $1.9 billion for Sinochem's 40% stake in the field.

Prio, however, had not confirmed the deal's financial terms until now.

State-backed Sinochem has been trying, since 2017, to sell its 40% stake in Peregrino, an offshore field east of Rio de Janeiro, it bought from Norway's Equinor for $3.07 billion in 2010.

Equinor (EQNR.OL) , opens new tab owns the other 60% stake and operates the field, its largest outside Norway, which last year reached a production of 110,000 barrels of oil per day.

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https://www.reuters.com/markets/commodities/brazils-prio-pay-192-bln-peregrino-oil-field-stake-sinochem-2024-09-26/