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Chevron to Lease Chouest Oil Vessel Base at Acu in Brazil

Source: Reuters 6/7/2016, Location: South America

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Chevron Corp plans to sign a five-year agreement to lease berthing space for its vessels from U.S. oil service company Edison Chouest Offshore, Chouest's head of Brazilian operations Ricardo Chagas said.

Chouest's 950-million-real ($275 million) base is located at Prumo Logistica's Port of Acu, on the northeast coast of Rio de Janeiro state. It is scheduled to be completed by mid-2017, Chouest's Brazilian head Chagas told reporters at the port.

Chevron is expected to increase its Brazilian offshore operations in the coming year as it launches a new offshore field in the Campos basin.

The company controls and operates the Frade project in Campos, which is also owned by minority partners Petroleo Brasileiro SA, and Frade Brasil, a joint venture between Inpex Corporation and Sojitz Corporation.

According to Brazil's oil and fuels regulator ANP, Frade produced 12,079 barrels per day on average last March.

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