June 7, 2016 / 10:02 PM / 2 years ago

UPDATE 1-Chevron to lease Chouest oil vessel base at Acu in Brazil

SAO JOAO DA BARRA, Brazil, June 7 (Reuters) - 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 on Tuesday.

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. ($1 = 3.4485 Brazilian reais) (Reporting by Jeb Blount; Writing by Reese Ewing and Marcelo Teixeira; Editing by Chris Reese)

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