Teekay, Det Norske to Develop North Sea Export Solution

Teekay and Det norske have signed a cooperation agreement to jointly develop further the Teekay FlexShuttle concept, a patented export solution for advanced future offshore operations.

The two-year Research and Development Program is co-funded by The Research Council of Norway and supported by Marine Cybernetics and Ship Manoeuvring Simulator Centre A/S.

The Teekay FlexShuttle will meet the transportation challenges that arise from the development of more marginal fields as North Sea oil production is declining. The concept will include a stern loading solution allowing for offshore export operations to be performed directly from the production facility.

"This cooperation will further strengthen our position as industry leader and forerunner in research and development," commented Stein Rynning, Senior Vice President, Teekay Shipping Norway AS. "The Teekay Flex Shuttle will offer a cost effective export solution with improved dynamic positing performance that further reduces the impact of our vessels on the environment, as the loading operation requires less power and the vessel will be gas powered."

Stein Fines, Vice President Technology and Development, said, "This project is bringing together four companies working in different arenas within the Norwegian oil & gas and maritime industry. We are convinced that the outcome of the work will contribute to making it economically viable to develop the more marginal fields on the Norwegian continental shelf, and also contribute to strengthening the Norwegian offshore industry."