Teekay Offshore Partners LP intends to raise $640m through issuing units at a price of $2.50 each in a private placement. The company will also issue 65.5 million warrants on a pro-rata basis.

Units worth $610m will be subscribed by Brookfield Business Partners LP, while Teekay Corporation will subscribe for units worth $30m.

Proceeds from the placement are intended to be used by Teekay Offshore to fund its existing growth projects.

The placement is scheduled for completion in the third quarter of 2017.

Aquaterra Energy has received the commitment from EV Private Equity for an equity investment of $10m.

Aquaterra Energy offers riser systems, offshore structures and rental equipment for the global oil and gas industry. It has an operational footprint in Aberdeen, Norwich, and Cairo.

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"The investment enables Aquaterra Energy to develop new technologies and expand its services portfolio."

The company has recently designed, fabricated, and installed a new Sea Swift platform for the Amal field in the Gulf of Suez, offshore Egypt.

The investment enables Aquaterra Energy to develop new technologies and expand its services portfolio.

Sparrows Group and SPIE Oil & Gas Services have received a joint crane maintenance contract from Total E&P Congo for the Moho Nord development off the coast of Central Africa.

The contract includes the delivery of maintenance, inspection and testing services on five pedestal cranes on the Likouf floating production unit (FPU) and tension leg platform (TLP) for three years.

SPIE is responsible for the project management, while Sparrows Group will supply expert specialist technical personnel for the project.