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Teekay secured 7,5 year contract

Teekay secured 7,5 year contract
Teekay?s FSO division has secured a seven and a half year contract, plus options, for the deployment of the shuttle tanker ?Rita?, ex ?Rita Knutsen?, as an FSO in the Al Rayyan field, offshore Qatar.

Teekay"s FSO division has secured a seven and a half year contract, plus options, for the deployment of the shuttle tanker "Rita", ex "Rita Knutsen", as an FSO in the Al Rayyan field, offshore Qatar.

Teekay"s FSO division has secured a seven and a half year contract, plus options, for the deployment of the shuttle tanker "Rita", ex "Rita Knutsen", as an FSO in the Al Rayyan field, offshore Qatar. ?We expect the need for FSOs to grow significantly over the next five years,? commented Peter Webb, vice president, offshore business development, Teekay Navion Shuttle Tankers and Offshore (TNSTO). ?Teekay is well positioned to participate in this growth, particularly because many of the shuttle tankers in our fleet are ideal FSO conversion candidates.?

Shuttle tankers have several competitive advantages in being converted to a FSO, including already-existing helicopter decks and twin engines and thrusters, which increase their operational flexibility. These latter features also help save fuel consumption, thereby reducing emissions, and can contribute to reduced need for tug support.

Teekay currently has five FSO units in operation and these are deployed in the North Sea, Australia and Thailand, servicing customers on specific fields. This new FSO contract marks Teekay"s entry into the Middle East"s offshore arena.

?The Middle East represents a new and attractive market for our offshore business,? added Webb. ?We are able to expand on our existing LNG platform in this region, where we currently operate seven LNGCs on long-term contracts with Qatar-based RasGas.?

In June, the 1986-built "Rita" moved from its previous position in South Africa, to the Middle East for class renewal and yard modifications to its offshore crane, helideck, and CALM buoy mooring system, plus the general refurbishment of existing structure and equipment.

Despite a tight and challenging delivery schedule, it is expected that the FSO will successfully meets its target of receiving oil by December of this year, TNSTO said.

www.TurkishMaritime.com.tr

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