Cidade De Rio News

Bermuda-based marine services company Teekay Offshore Partners announced that certain of its subsidiaries have entered into a settlement agreement with Petrobras with respect to various disputes relating to the previously-terminated charter contracts of the HiLoad DP unit and Arendal Spirit unit for maintenance and safety (UMS). As part of the settlement agreement, Petrobras - on behalf od its subsidiaries Petróleo Brasileiro and Petroleo Netherlands - has agreed to pay a total amount of $96 million to Teekay Offshore, which includes $55 million that is payable unconditionally within 30 days.The remaining $41 million is to be paid in two separate instalments of $22 million and $19 million by the end of 2020 and 2021…

Shortly after lunchtime on June 5 onboard FPSO Cidade de Rio das Ostras, a crew member spotted a sea turtle trapped in a fishing net drifting on the surface of the waves. A report was made immediately after the sighting and after a brief meeting, a decision was made to launch Fast Rescue Craft (FRC) to attempt to save the trapped sea turtle. Supervised by Chief Officer M. Slotwinski, the FRC made its way to the rogue fishing net. Thanks to the crew members’ quick actions, they were able to reach the turtle in time, liberate it from the net and release it back into the ocean.

Teekay Offshore GP L.L.C., the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO), reported the Partnership's results for the quarter ended September 30, 2010. During the third quarter of 2010, the Partnership generated distributable cash flow of $20.8 million, compared to $28.1 million in the quarter ended June 30, 2010, primarily as a result of seasonal factors associated with the scheduled maintenance of North Sea oil fields during the summer months. On October 25, 2010, the Partnership declared a cash distribution of $0.475 per unit for the quarter ended September 30, 2010. The cash distribution will be paid on November 12, 2010, to all unit holders of record on November 5, 2010.

Teekay Offshore Partners L.P. (NYSE:TOO) announced that is has completed the acquisition of the Cidade de Rio das Ostras floating production storage and offloading (FPSO) unit from Teekay Corporation (NYSE:TK) for a purchase price of approximately $158m. The partnership also announced that its 51 percent-owned subsidiary, Teekay Offshore Operating L.P. (OPCO), has acquired the newbuilding shuttle tanker, the Amundsen Spirit, from Teekay for approximately $128m and has agreed to acquire two additional newbuilding shuttle tankers, the Nansen Spirit and the Peary Spirit, from Teekay for a total purchase price of $260m. The partnership has…