Working Conditions Aboard the Svetah-Venetia

Teekay Offshore Partners has officially ended its agreement with Alpha Petroleum Resources to utilize the FPSO PETROJARL VARG for redeveloping the Cheviot oil field located in the northern section of the UK North Sea. The deal was set for a seven-year commitment starting from the anticipated first oil output in the second quarter of 2021, post life extension and upgrade work scheduled at Sembcorp Marine's shipyard in Singapore. Unfortunately, Alpha Petroleum was unable to provide the necessary initial funding to initiate the program. Due to this funding issue and the failure to meet other critical conditions, Teekay Offshore decided to terminate the partnership. Now, the company is exploring new deployment avenues for the vessel, which previously contributed to oil production at the Varg field in the southern Norwegian North Sea. Chris Brett, President of Teekay Offshore Production, commented, "We have been very impressed with the creativity, competence, and determination of the Alpha Petroleum team in their efforts to develop the Cheviot field, which we view as a well-developed opportunity. We wish the Alpha team success in their ongoing attempts to bring the field into production. From Teekay Offshore's standpoint, we are eager to progress with the next project for the PETROJARL VARG, which may still involve the Cheviot development under a revised financial model. The Varg FPSO has a robust history of dependable production on the Norwegian continental shelf and offers a versatile production solution for numerous future developments across the North Sea and beyond." Source: Offshore Magazine

(Reuters) – The possibility of a strike looms for approximately 574 Norwegian offshore rig workers by next Thursday, a move that could significantly impact oil production if wage negotiations do not yield results, according to announcements made by three labor unions on Thursday. A group of 101 employees aboard the Petrojarl Varg oil production vessel, which operates under Repsol, along with 88 personnel on the Petrojarl Knarr, which provides production for BG, are set to walk off the job if discussions mediated by a state-appointed representative end without an agreement, as stated by the Safe union. Both vessels are operated by Teekay Petrojarl, a subsidiary of Teekay Corporation. The Petrojarl Varg was reported to have produced 6,000 barrels of oil per day as of March, while the newly operational Knarr is projected to scale up its production to 63,000 barrels per day over time.