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Teekay Wins FSO Job For Legendre

Maritime Activity Reports, Inc.

September 26, 2000

Teekay Shipping's Australian subsidiary, Karratha Spirit, has been granted a contract by Woodside Energy to supply a floating storage and offtake (FSO) tanker to the Legendre project on the northwest shelf of Australia.

The contract, which was signed for an initial three-year period, with options for a 10-year extension, calls for Teekay to convert the 1998-built 106,7000-dwt Aframax tanker Pioneer Spirit to an FSO tanker ready for first oil from the Legendre fields in second quarter 2001.

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