Teekay Offshore Partners announces completion of upgrades on the Petrojarl I FPSO
Teekay Offshore Partners L.P. has completed the upgrade of the Petrojarl I floating production, storage and offloading (FPSO) unit, which has now sailed-away from the Aibel AS shipyard in Norway, the company said in its press release. The FPSO unit is now en route to the Atlanta Field, which is located 185 kilometers offshore from the coast of Brazil at a water depth of approximately 1,550 meters and contains an estimated 260 million recoverable barrels of oil equivalent. Once the FPSO unit arrives at the Atlanta field, it will undergo field installation and testing prior to commencing its five-year charter contract with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP), which is expected to occur in the latter part of the first quarter of 2018.
About Teekay Offshore
Teekay Offshore Partners L.P. is an international provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the oil industry, primarily focusing on oil production-related activities of its customers and operating in offshore oil regions of the North Sea, Brazil and the East Coast of Canada. Teekay Offshore is structured as a publicly-traded master limited partnership (MLP) with consolidated assets of approximately $5.6 billion, comprised of 63 offshore assets, including floating production, storage and offloading (FPSO) units, shuttle tankers, floating storage and offtake (FSO) units, a unit for maintenance and safety (UMS), long-distance towing and offshore installation vessels and conventional tankers. The majority of Teekay Offshore’s fleet is employed on medium-term, stable contracts.