North Sea Cheviot floater charter still to be ratified

Teekay Offshore Group continues to work with Alpha Petroleum as the latter attempts to complete financing for its Cheviot field development in the UK northern North Sea.

Offshore staff

HAMILTON, Bermuda – Teekay Offshore Group continues to work with Alpha Petroleum as the latter attempts to complete financing for its Cheviot field development in the UK northern North Sea.

This remains a pre-condition for a new charter contract to take effect for the redeployment of theFPSOPetrojarl Varg, which formerly served at the Varg field in the Norwegian sector.

Ingvild Sæther, president and CEO of Teekay Offshore Group, said a decision should follow during the current quarter.

Earlier this month Teekay completed the sale of the FPSOPattani Spirit, while in January, it secured a three-year contract extension with Petrobras for use of the circular FPSOPiranema Spirit offshore Brazil.

04/30/2019

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