The FPSO Petrojarl I reached Brazilian waters on December 31, 2017, and arrived at the Atlanta Field today in the late morning. With the vessel on site and upon clearance from the regulatory authorities, Teekay Offshore Partners, the operator of the FPSO, and QGEP, the operator of the Block, will move ahead to interconnect the production and control lines.

These activities are scheduled to be completed in approximately 45 to 60 days, upon clearance of the FPSO.

The Company expects Atlanta Field production to reach approximate 20,000 barrels of oil per day, based on two producing wells. Oil produced by the Atlanta Field’s EPS (Early Production System) will be purchased by Shell.

Commenting on the arrival of the FPSO, Danilo Oliveira, Production Director, noted, “The arrival of the FPSO is an important milestone in the development of the Atlanta Field, and is aligned with our expectation for first oil in this year’s first quarter, diversifying the Company's revenue sources.”

Located in Block BS-4, in the Santos Basin, Atlanta is a post-salt oil field situated 185 kilometers from the city of Rio de Janeiro, in water depths of approximately 1,500 meters.