Definitions

Teekay_Petrojarl

Teekay Petrojarl

Teekay Petrojarl is the largest Floating Production Storage and Offloading (FPSO) operator in the North Sea with a daily production of 339,000 barrels of oil per day and a storage capacity of one million barrels of crude oil. Teekay Petrojarl operates four FPSO vessels, two shuttle tankers and one storage tanker.

Operations

Oil Field Country Ship Operator
Glitne Petrojarl I StatoilHydro
Varg Petrojarl Varg Talisman Energy
Foinaven Petrojarl Foinaven BP
Banff Petrojarl Banff Canadian Natural Resources

History

Teekay Petrojarl started off as PGS Production and was part of Petroleum Geo-Services (PGS) in 1998 when it acquired Golar-Nor and two FPSO vessels, Petrojarl I and Petrojarl Foinaven. Within a year two more vessels were delivered Petrojarl Banff and Petrojarl Varg. In 2005 the company acquired the shuttle tanker Rita Knutsen with possibilities for FPSO conversion.

Petrojarl ASA was demerged from Petroleum Geo-Services in 2006 and listed on Oslo Stock Exchange in June. Teekay acquired majority ownership in December and Petrojarl ASA became Teekay Petrojarl ASA.

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