Aibel AS shipyard in Norway has completed the upgrade of Teekay Offshore’s Petrojarl I floating production, storage and offloading (FPSO) unit.
The FPSO unit is now en route to the Atlanta Field, which is located 185 kilometers offshore from the coast of Brazil at a water depth of approximately 1,550 meters.
The field contains an estimated 260 million recoverable barrels of oil equivalent, Teekay said.
Once the FPSO unit 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.
“This has been a challenging project for Teekay Offshore and today, therefore, marks a significant milestone for the Petrojarl I FPSO upgrade project,” Ingvild Sæther, President and CEO of Teekay Offshore Group commented.
“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.”
The FPSO tanker was built in 1986 and features 31,500 dwt and 30,413 cbm. It flies the Bahamas flag.