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NYSE:TK
NYSE:TNK

FPSO Petrojarl I for the Atlanta Field

February 25, 2015

Petrojarl I FPSO will be used as an early production system (EPS) unit on the Atlanta field

Last December, Teekay Offshore entered into an agreement with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) to provide a floating production, storage and offloading (FPSO) unit for the Atlanta field located in the Santos Basin offshore Brazil. Petrojarl I will be used for the Atlanta project. The Atlanta field is a heavy crude oil field located north in the Santos Basin. It is estimated that the field contains approximately 190 million recoverable barrels and has a production life in excess of 15 years. QGEP is the Operator of the field and an independent upstream oil and gas company. Petrojarl I Since the delivery in 1986, various oil companies have contracted the ship for oil production. The field locations have been in the British and Norwegian sectors of the North Sea. The variety in field conditions (flow rates, flow composition, water depth etc.) illustrates the flexibility of the system. Over the years, Petrojarl I has demonstrated indisputable reliability, with an average production regularity between 96 and 99 %.
Teekay Offshore Partners Fourth Quarter 2014 Earnings Presentatio from Teekay Offshore Partners L.P.
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