Teekay Petrojarl

Teekay Petrojarl
Type	Public
Traded as	(OSE: PETRO)
Industry	Petroleum
Founded	1974 (Golar Nor Offshore)
Headquarters	Trondheim, Norway
Key people	Peter Lytzen (CEO)
Products	Floating Production Storage and Offloading
Number of employees	ca.1,000 (2012)
Parent	Teekay Corporation (TK)
Website	http://www.teekay.com/

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 1 million barrels (160,000 m³) of crude oil. Teekay Petrojarl operates five FPSO vessels, two shuttle tankers and one storage tanker. It is owned by Teekay, a large operator of tankers.

Operations

Petrojarl Banff at Blohm + Voss shipbuilding works in Hamburg 2013

Oil Field	Country	Ship	Licensee
Glitne	Norway	Petrojarl I (COP)	StatoilHydro
Varg	Norway	Petrojarl Varg (COP)	Talisman Energy
Foinaven	United Kingdom	Petrojarl Foinaven	BP
Banff	United Kingdom	Petrojarl Banff (COP 1st June)	Canadian Natural Resources
Chestnut	United Kingdom	Hummingbird Spirit	Centrica
Huntington	United Kingdom	Voyageur Spirit (COP 1st April)	Premier Oil plc.
Espadarte	Brasil	Petrojarl Cidade de Rio das Ostras (scrapped)	Petrobras
Tiro e Sidon	Brasil	Cidade de Itajai	Petrobras
Piranema oil field	Brasil	Piranema Spirit	Petrobras
Bacia de Campos	Brasil	Arendal Spirit	Petrobras

History

Teekay Petrojarl started off as Golar Nor Offshore 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. In 2007, the Russian tanker Che Guevara was converted into FPSO Petrojarl Cidade de Rio das Ostras by the Polish Remontowa S.A..

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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External links

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