Teekay completes purchase of Knarr field FPSO

Offshore staff

HAMILTON, Bermuda – Teekay Offshore Partners (NYSE:TOO) has completed the acquisition of the Petrojarl Knarr FPSO serving BG’s Knarr field in the Norwegian North Sea from Teekay Corp. The fully built-up cost is around $1.26 billion.

The FPSO has completed all the required operational testing and has begun operating at its full charter rate under the long-term contract on Knarr.

Teekay adds that its first floater designed for maintenance and safety services, the Arendal Spirit, has started a three-year charter contract with Petrobras offshore Brazil. This is also the first such facility based on Sevan Marine’s cylindrical hull design.

07/01/2015

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