Converting to floating storage to increase life of assets and meet customers’ needs.
As part of our comprehensive shuttle tanker and offshore services, Teekay has provided floating storage and offloading solutions (FSOs) since 1990.
Our large fleet of oil tankers, access to the secondhand market and strategic alliances with shipyards yield many options. We work closely with our customers to develop tailor-made technical and commercial solutions.
Teekay has recently entered an agreement with Statoil to provide an FSO for the Gina Krog field, The $220 million conversion project is expected to be completed in the first quarter of 2017, before the newly converted FSO unit will commence operations under a time-charter contract to Statoil.
Case Study: Falcon Spirit Project for Occidental Petroleum
Occidental Petroleum was seeking an FSO vessel for deployment on the Al Rayyan Field offshore Qatar. Teekay was awarded the contract in April 2009 and delivered the Falcon Spirit eight months later, in December 2009.
This fast track project included procurement of heavy equipment and a conversion of the former shuttle tanker Sarita. The Al Rayyan field is developed by a production jack-up rig and the Falcon Spirit for storage. The FSO is moored to a SBM buoy using standard Bow Loading Equipment that has formerly been used for 23 years on a shuttle tanker. Conventional tankers moor to the stern of the Falcon Spirit for cargo transfer once every two months.