Chouest investing $425 million in Brazil facility

Galliano shipbuilder and oilfield service provider Edison Chouest will invest about $425 million in deepwater port facilities in Brazil.

Prumo Logistica, who is leasing the property, said the investment will give Chouest a leasing area to maintain its own vessels and a base to serve its offshore customers at Brazil’s Acu Port at São João da Barra in the Rio de Janeiro state.

Edison Chouest founder Gary Chouest said the port is strategically close to the growing Campos Basin and features deepwater draft. Chouest added that the surrounding area allows for expansion and further growth from a chain of oilfield suppliers.

The 60-acre lease will have deepwater berths for up to 12 vessels and comes with options to grow to 18 vessels.

Attracting a heavy hitter such as Chouest will help the port attract more products and services, wrote Eduardo Parente, CEO of Prumo.

The initial investment is pegged at about $425 million with operations to begin in early 2015, generating 900 jobs at the base, according to the announcement.

Chouest is a major operator and builder of offshore service vessels. In Brazil alone, the company has 70 offshore supply vessels serving Petrobas, Shell, Statoil and others. The company also boasts 10 remotely operated vehicles in Brazil.