Teekay Offshore Partners L.P. has agreed to acquire ALP Maritime Services B.V. (ALP), a Netherlands-based provider of long-haul ocean towage and offshore installation services to the global offshore oil and gas industry. ALP currently provides these services through a fleet of third-party owned vessels. As part of the transaction, Teekay Offshore and ALP have ordered four state-of-the-art towing and anchor handling vessel newbuildings, which will be capable of ultra-long distance towing, offshore installation and decommissioning of large floating production, storage and offloading (FPSO) units, floating liquefied natural gas (FLNG) units and floating drill rigs.

Transaction Summary

◾ Teekay Offshore and ALP have entered into an agreement with Niigata Shipbuilding & Repair of Japan for the construction of four state-of-the-art SX-157 Ulstein Design ultra-long distance towing and anchor handling vessel newbuildings, which will be equipped with dynamic positioning capability, for a fully built-up cost of approximately $260 million, which includes the cost of acquiring ALP.

Tags: ALP Maritime Services B.V., Teekay Corporation