Oil and Gas

Açu to build oil storage park in northern Fluminense

Apr, 07, 2021 Posted by Ruth Hollard

Week 202114

Açu Petróleo, a joint venture between Prumo Logística and the German company Oiltanking, plans to start constructing an oil storage park in the northern Fluminense region this year. The project has a budget of R$ 2.5 billion. It will have a capacity of 5.7 million barrels with the possibility to expand to up to 11 million barrels according to demand. Operations will begin at the end of 2023. Two thousand direct and indirect jobs will be created.

“Brazil will considerably expand oil exports by 20% to 30% per year due to the increase in production with the pre-salt. And it will demand more available terminals. Handling at Port of Açu has been growing 40% annually. We already account for 25% of oil exports. So we will invest in a storage park”, explains Victor Bomfim, ahead of Açu Petróleo.

This new park will also have pipeline connections with the Southeast’s pipeline system, says the executive. The network, which Transpetro operates, passes through northern Fluminense, connects with Reduc, and reaches Minas Gerais. It will be an alternative for supplying refineries located in these regions.

The project is in the licensing and financing structuring phase.

Last year, Brazilian oil exports rose almost 17% compared to 2019, to 500.4 million barrels, according to data compiled by the ANP. Petrobras set a record for oil exports in 2020, with a 33% expansion over the previous year.

Prumo Logística has been working to make Açu a logistical and industrial hub in the north of the state of Rio. In mid-March, it announced that it is working to receive a fertilizer factory. For now, it already has an agreement for the installation of a hydrogen plant (input for fertilizers) since it began importing the product in 2020.

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