PORT FOURCHON, La. (AP) — The Greater Lafourche Port Commission says agreements have been reach that will advance a plan to develop the Gulf’s first purpose-built, deepwater rig repair and refurbishment facility to service the oil and gas industry.

Chett Chiasson, Port Commission executive director, said in a news release the agreement is with the Edward Wisner Donation, granting the commission a right of first refusal on more than 900 acres of property immediately south of the port.

Under a memorandum of understanding with the U.S. Army Corps of Engineers after nearly two years of discussion and negotiation, the commission says a corps study will be conducted to determine the feasibility of a deeper draft channel into Port Fourchon.

The study will evaluate deepening the main channel of Bayou Lafourche through Belle Pass to a depth of between 35 and 50 feet.Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.