Teekay Offshore (TOO) is taking over the 50% stake in the Cidade de Itajai FPSO unit now held by...

|About: Teekay Offshore Partners L.P. (TOO)|By:, SA News Editor

Teekay Offshore (TOO) is taking over the 50% stake in the Cidade de Itajai FPSO unit now held by Teekay Corp. (TK) The intra-company deal will see TOO spend ~$204M for the stake in the unit currently working offshore Brazil for Petrobras (PBR). The unit will be able to produce up to 80K barrels of oil and 2M cubic metres of natural gas per day.