Teekay Extends Petrojarl Banff FPSO Employment for One Year

Petrojarl Banff, FPSOImage Courtesy: Teekay Corporation

Bermuda-based shipping group Teekay Corporation has entered into an agreement to extend the employment of the Petrojarl Banff FPSO unit in the North Sea for a period of one year.

Under the deal with a subsidiary of Canadian Natural Resources (CNR), the FPSO unit will continue working on the Banff field until the end of August 2020.

The company said that the contract was agreed at substantially similar terms to the current deal, which includes an upside component linked to oil prices and oil/gas production.

“We are pleased to announce this important FPSO contract extension for the Petrojarl Banff, which extends the production of the fields in the North Sea, and we are committed to work together with CNR to maximize production in the future,” Kenneth Hvid, Teekay’s President and Chief Executive Officer, said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

The Smart Ship Exchange

The Exchange will look at the issues involved with increasing autonomy in shipping with an introduction to the concept…

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >