By means of in-situ thermo-gravimetry analysis (TGA) we have studied the dependence on temperature of the equilibrium oxygen content (8) in PrBaCo2O5+delta cobaltite under different atmospheres or oxygen partial pressure. We have also characterized the kinetics of 8 changes at different temperatures. The equilibrium studies have permitted us to prepare samples with the desired values of 8, a crucial step to correctly characterize the interesting family of layered "112" cobalt oxides. Kinetic studies reveal that oxygen diffusion and surface reactivity starts at low temperatures (200 degrees C) in these compounds.