Teekay Offshore is to buy a floating, production, storage and offloading (FPSO) unit from Norway’s Sevan Marine for $165m.

The FPSO vessel, Sevan Piranema, is operating under a long-term charter with Petrobras on the Piranema field, offshore Brazil.

The company will buy two more FPSO units as part of a proposal to buy three such vessels from Sevan Marine, subject to working capital adjustments.

In addition, the partnership has agreed to sell approximately 7.1 million common units to a group of institutional investors for approximately $170m, subject to the acquisition of the Piranema FPSO, which will close later this year.