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Petrojarl I Sails for Brazil Following Upgrades

Petrojarl I Sails for Brazil Following Upgrades
Teekay’s long standing 31-year-old floating production, storage and offloading (FPSO) unit Petrojarl I has sailed-away en route to the Atlanta Field off Brazil following upgrades at the Aibel AS shipyard in Norway.

“This has been a challenging project for Teekay Offshore and today therefore marks a significant milestone for the Petrojarl I FPSO upgrade project,” said Ingvild Sæther, President and CEO of Teekay Offshore Group Ltd.  “We now look forward to achieving first oil on the Atlanta field which will allow our customer to begin generating a return on their investment while also adding cash flow growth to Teekay Offshore.”
 
Once the FPSO 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.
 
The Atlanta Field 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.

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