Teekay Petrojarl

Teekay Petrojarl ASA
Type Public
Industry Petroleum
Founded 1998
Headquarters Trondheim, Norway
Key people Peter Lytzen (CEO)
Products Floating Production Storage and Offloading
Revenue USD 277.4 million (2006)
Employees 512 (2006)
Website http://www.teekay.com/

Teekay Petrojarl (OSE: PETRO) 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.

Operations

Oil Field Country Ship Operator
Glitne Norway Petrojarl I StatoilHydro
Varg Norway Petrojarl Varg Talisman Energy
Foinaven United Kingdom Petrojarl Foinaven BP
Banff United Kingdom Petrojarl Banff Canadian Natural Resources
Siri Brasil Petrojarl Cidade de Rio das Ostras 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.

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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