David Wong will step down from his position as chief financial officer of Teekay Offshore Group to begin a new opportunity outside of the company.

Wong will stay in with the partnership until August to help with the transition while a search for his replacement is conducted, Teekay Offshore Group said.

Chief executive Ingvild Saether said: "On behalf of our board and leadership team, I want to thank David for his service and dedication to Teekay Offshore and his efforts during the Partnership’s transition from project execution, in a challenging market environment, to now as we begin generating cash flows from our recently-completed growth projects.”

A call to Teekay Offshore Group, a Teekay Corp subsidiary, was not immediately returned.

Wong joined Teekay Corp in 2009 and has served in a number of financial positions, including MLP controller and vice president of accounting, according to his LinkedIn profile.

Before joining Teekay, he worked for 13 years at Canadian electric utility BC Hydro in various financial positions.

Teekay Offshore Partners provides marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the oil industry.

It has approximately $5.6bn in assets and 63 offshore assets, including FPSO units, shuttle tankers and FSO units, as well as conventional tankers.