October 27, 2022
We mark a special day in Teekay’s history as we successfully wind down our FPSO business.
In 2006, we entered the FPSO business with the acquisition of Petrojarl ASA. Over the years of operating in the North Sea and Brazil, the business grew and we marked numerous milestones for all of our FPSOs. This includes anniversaries, achieving first oil, passing the 60-million barrel mark, and even winning the “Excellence in Collaboration” award at the 2022 North Sea Decom Week.
Following the Brookfield transaction in 2017, our last three units: Hummingbird, Banff, and Foinaven, have been successfully sold, decommissioned and green recycled. Foinaven, our final FPSO, has completed her delivery to Modern American Recycling Services Europe in October of 2022.
As we close the final chapter of our FPSO business, we are grateful for the outstanding global team members, both ashore and at sea, who have been involved in the safe, final voyage of our last unit. It is a true example of great teamwork, a value that has allowed us to see through our final asset until the very end.
