Technip Brasil signs land lease agreement at Açu Superport

LLX has signed a rental agreement with Technip Brasil for land in TX2 at the Açu Superport, for the installation of a flexible-pipe production plant to support the offshore oil and gas industry.

Offshore staff

RIO DE JANEIRO – LLX has signed a rental agreement with Technip Brasil for land in TX2 at the Açu Superport, for the installation of a flexible-pipe production plant to support the offshore oil and gas industry.

Technip Brasil's production plant will be located on the right bank of the canal, with a 500 m (1,640 ft) wharf line and a total area of 289,800 sq m. Following the commencement of the activities scheduled for 2013, it is estimated that R$ 650 million ($360 million) will be invested, generating 600 direct jobs.

Under the agreement LLX estimates it will receive annual revenue of approximately R$ 22 million ($12 million) in rent and fees related to use of basic infrastructure.

Otávio Lazcano, CEO of LLX, said: “The Açu Superport is now the preferred destination for the expansion of oil and gas support industries, which are offered unrivaled conditions for installing their plants, including access to their own docks, with easy access to the sea, through a sheltered canal. The Superport is located just 150 km (241 mi) from the Campos basin, responsible for 85% of Brazil's current oil production, and is located very close to the Santos and Espírito Santo basins and the new pre-salt exploration blocks.”

11/21/2011

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