Chevron to lease Chouest oil vessel base at Acu in Brazil

The logo of Dow Jones Industrial Average stock market index listed company Chevron (CVX) is seen in Los Angeles, California, United States, April 12, 2016. REUTERS/Lucy Nicholson

SAO JOAO DA BARRA, Brazil (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.

Reporting by Jeb Blount; Writing by Reese Ewing and Marcelo Teixeira; Editing by Chris Reese