Oiltanking Acquires 20% of Açu Port’s Oil Terminal, Brazil
In August 2015, Oiltanking concludes an agreement with Prumo Logistica SA, which owns and operates the Industrial Complex Açu Port in Brazil, to acquire 20% of Açu Port’s crude oil transshipment facility. As part of the agreement, Oiltanking will operate and manage the terminal’s crude-handling operations. The aim is to further strengthen Oiltanking’s position in Brazil and in Latin America as a whole.
The transshipment terminal has a licensed capacity to handle up to 1.2 million barrels per day (bpd) of crude oil and is designed to accommodate very large crude carriers (VLCCs). It shares existing infrastructure with Açu Port’s operational iron ore terminal and is scheduled to begin operations in August 2016.
Açu Port is the largest port in the Americas with 17 kilometers of quay, over 90 square kilometers of land, and a channel depth of 24 meters, making it capable of receiving the largest class of oceangoing vessels. Its strategic location near the Campos and Santos Basins, which together account for over 80% of Brazilian crude oil production, makes the port very suitable for servicing the oil and gas industry.