Teekay Offshore Partners has struck a near $100m settlement with Petrobras to end a contract dispute over two units.
A third contract under contention, involving an FPSO, has also been resolved with the deal adjusted at a lower rate.
Ingvild Saether, chief executive of Teekay Offshore, said: “We settled the contractual disagreements in a very constructive manner and we can now turn our full attention to working together to deliver offshore production and logistics solutions for the fast-growing Brazilian offshore market.”
