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Tanker Shipping & Trade

Tanker Shipping & Trade

Teekay’s oldest FPSO stands the test of time

Mon 14 May 2018 by Craig Jallal, tankers and markets editor

Teekay’s oldest FPSO stands the test of time
Teekay’s Petrojarl 1 FPSO heading for a third decade of deployment

After double-digit deployments in the harsh environment of the North Sea, Teekay’s oldest FPSO has produced its first crude oil since being deployed off the coast of Brazil.

If ever there was an FPSO that heeds the call that production ships should be designed for longer lifespans, Petrojarl 1 is a supreme example. Built in 1986 to a Tentech 685 design, the unit spent two years being refurbished at Damen Shiprepair Rotterdam, and is now capable of operating to water depths of 1,550 m, with a production capacity of 30,000 barrels of oil per day and daily compression capacity of 225,500 m3 of gas.

Teekay Offshore Partners announced today that Petrojarl I has successfully achieved first crude oil and commenced its five-year charter contract with a consortium led by Queiroz Galvão Exploração e Produção SA on the Atlanta oil field, 185 km from Rio de Janeiro.

“Today is an important day for Teekay Offshore as it marks the completion of all our near-term growth projects that are expected to generate annual cash flow from vessel operations of approximately US$200M, which is also expected to further strengthen our balance sheet as we naturally deliver over time,” commented Teekay Offshore Group president and chief executive Ingvild Sæther.

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