Teekay handed Brazil-bound floatel

Submitted by Paddy Harris on Tue, 2015-02-17 15:09

17th February 2015

Sevan Marine has delivered the accommodation unit Arendal Spirit from the Cosco, Nantong yard to Teekay Offshore Partners, the first in a series of cylindrical floating accommodation units

The delivery triggers the payment of USD 10m to Sevan Marine no later than six months from the date of delivery

Teekay has commissioned the accommodation vessel for use by Petrobras offshore Brazil.

The transfer is in accordance with the agreement between Teekay Offshore Partners LP, Cefront Technology AS and Logitel Offshore Holdings AS announced on 12 July 2014.

The delivery triggers the payment of USD 10m to Sevan Marine no later than six months from the date of delivery.