Contact Media Careers Fleet Follow Us BUSINESS INVESTORS PEOPLE BUSINESS About Teekay Floating Production Storage and Offloading Shuttle and Floating Storage and Offloading Floating Storage and Offloading Creative Solutions Shuttle and Floating Storage and Offloading News Gas Conventional Sustainability Media Engineering and Consulting RELATED LINKS Why Invest in Teekay Fleet Media Offshore Market Update Sustainability Reports iPhone & iPad App FLOATING STORAGE AND OFFLOADING Converting to floating storage to increase life of assets and meet customers’ needs. As part of our comprehensive shuttle tanker and offshore services, Teekay has provided floating storage and offloading solutions (FSOs) since 1990. Our large fleet of oil tankers, access to the secondhand market and strategic alliances with shipyards yield many options. We work closely with our customers to develop tailor-made technical and commercial solutions. Teekay has recently entered an agreement with Statoil to provide an FSO for the Gina Krog field, The $220 million conversion project is expected to be completed in the first quarter of 2017, before the newly converted FSO unit will commence operations under a time-charter contract to Statoil. Case Study: Falcon Spirit Project for Occidental Petroleum Occidental Petroleum was seeking an FSO vessel for deployment on the Al Rayyan Field offshore Qatar. Teekay was awarded the contract in April 2009 and delivered the Falcon Spirit eight months later, in December 2009. This fast track project included procurement of heavy equipment and a conversion of the former shuttle tanker Sarita. The Al Rayyan field is developed by a production jack-up rig and the Falcon Spirit for storage. The FSO is moored to a SBM buoy using standard Bow Loading Equipment that has formerly been used for 23 years on a shuttle tanker. Conventional tankers moor to the stern of the Falcon Spirit for cargo transfer once every two months. TEEKAY GROUP NYSE: TGP Teekay LNG Partners L.P. generates stable cash flows from primarily long-term fixed-rate contracts with strong counterparties. LNG demand is expected to increase by more than 50% by 2030. 43.23+1.72% Visit Site » TGP TOO TNK TK CONTACT TEEKAY SHIPPING NORWAY AS Verven 4, PO Box 8035 N-4068 Stavanger Norway Tel: +47 5144 2700 Privacy Terms of Use Site Map © Copyright 2000-2014 Teekay Corporation. All Rights Reserved. Powered By Q4 Web Systems 4.0.6.245