Teekay Offshore Partners Announces New Board Member

By Marketwired,  June 07, 2017, 07:22:00 PM EDT


HAMILTON, BERMUDA -- (Marketwired) -- 06/07/17 -- Teekay Offshore Partners L.P. (NYSE:TOO) (Teekay Offshore or the Partnership) announced today that Mr. Ian Craig has accepted an invitation to join Teekay Offshore's Board of Directors, effective June 6, 2017.

Mr. Craig has served in various executive positions in Shell, most recently in Nigeria where he was Executive Vice President for Sub-Saharan Africa, and in Russia where he was CEO of Sakhalin Energy, an incorporated joint venture of Gazprom, Shell, Mitsui and Mitsubishi. Prior to that, Mr. Craig was a Board member and Technical Director of Enterprise Oil plc until its acquisition by Shell in 2002. He had earlier held executive and management positions with other exploration and production (E&P) companies including Sun Oil and BP. He retired in 2013, after which he served as a non-executive director of Petroceltic plc and as a Special Advisor to OMV's supervisory board.

"Ian's extensive global experience in the energy industry in engineering and project development will make him an invaluable member of Teekay Offshore's Board of Directors. He has a deep understanding of oil major E&P markets that will serve us well as the Partnership continues to develop its businesses," commented Mr. C. Sean Day, Chairman of Teekay Offshore's Board of Directors. "We are very pleased to have an individual of Ian's caliber join our Board and we look forward to working with him in the years ahead."

About Teekay Offshore

Teekay Offshore Partners L.P. is an international provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the oil industry, primarily focusing on oil production-related activities of its customers and operating in offshore oil regions of the North Sea, Brazil and the East Coast of Canada. Teekay Offshore is structured as a publicly-traded master limited partnership (MLP) with consolidated assets of approximately $5.6 billion, comprised of 62 offshore assets, including floating production, storage and offloading (FPSO) units, shuttle tankers, floating storage and offtake (FSO) units, units for maintenance and safety (UMS), long-distance towing and offshore installation vessels and conventional tankers. The majority of Teekay Offshore's fleet is employed on medium-term, stable contracts.

Teekay Offshore Partners' common units and Series A and B preferred units trade on the New York Stock Exchange under the symbol "TOO", "TOO PR A" and "TOO PR B", respectively.

Investor Relations Enquiries

Ryan Hamilton

+1 (604) 844-6654

www.teekay.com



Source: Teekay Offshore Partners L.P.



This article appears in: News Headlines

Referenced Stocks: TOO


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