US-listed Teekay Offshore Partners has settled two legal disputes by paying out $47m.
An arbitration relating to claims brought by the charterer of its Petrojarl Knarr FPSO unit was concluded in September, it revealed on Thursday.
The charterer was claiming a reduced purchase price option and certain liquidated damages.
The right to acquire the unit at a 20% discount was denied by the tribunal, but damages were awarded to the charterer, offset to an extent by certain damages awarded to Teekay for counterclaims brought against the charterer for its actions.
The balance of $25m was paid by Teekay last month.
Another $22m was paid out in October in final settlement of a dispute with a shipyard relating to the completion of the conversion of the Randgrid FSO.
Teekay has been contacted for further information.
