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<SEC-DOCUMENT>0000945234-06-001020.txt : 20061226
<SEC-HEADER>0000945234-06-001020.hdr.sgml : 20061225
<ACCEPTANCE-DATETIME>20061222214713
ACCESSION NUMBER:		0000945234-06-001020
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20061226
DATE AS OF CHANGE:		20061222

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Teekay Offshore Partners L.P.
		CENTRAL INDEX KEY:			0001382298
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER TRANSPORTATION [4400]
		IRS NUMBER:				980512555
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-82284
		FILM NUMBER:		061298161

	BUSINESS ADDRESS:	
		STREET 1:		TEEKAY SHIPPING (CANADA) LTD.,
		STREET 2:		SUITE 2000 - 550 BURRARD STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2K2
		BUSINESS PHONE:		242-502-8820

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX AP - 59212
		CITY:			NASSAU
		STATE:			C5
		ZIP:			000000

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEEKAY SHIPPING CORP
		CENTRAL INDEX KEY:			0000911971
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		STREET 1:		BAYSIDE HOUSE, BAYSIDE EXECUTIVE PARK
		STREET 2:		WEST BAY ST & BLAKE RD, PO BOX AP-59212
		CITY:			NASSAU BAHAMAS
		STATE:			C5
		ZIP:			00000
		BUSINESS PHONE:		8093228020

	MAIL ADDRESS:	
		STREET 1:		SUITE 2000,  BENTALL 5
		STREET 2:		550 BURRARD STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2K2

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VIKING STAR SHIPPING INC
		DATE OF NAME CHANGE:	19930914
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>o34274sc13d.htm
<DESCRIPTION>SCHEDULE 13D
<TEXT>
<HTML>
<HEAD>
<TITLE>Schedule 13D</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>


<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>SCHEDULE 13D</B>


<P align="center" style="font-size: 12pt"><B>Under the Securities Exchange Act of 1934</B>


<DIV align="center">
<DIV style="font-size: 24pt; margin-top: 16pt; width: 100%; border-bottom: 1px solid #000000">Teekay Offshore Partners L.P.</DIV>
</DIV>


<DIV align="center" style="font-size: 10pt">(Name of Issuer)
</DIV>


<DIV align="center">
<DIV style="font-size: 10pt; margin-top: 16pt; width: 100%; border-bottom: 1px solid #000000">Common Units, representing limited partner interests</DIV>
</DIV>

<DIV align="center" style="font-size: 10pt">(Title of Class of Securities)
</DIV>


<DIV align="center">
<DIV style="font-size: 10pt; margin-top: 16pt; width: 100%; border-bottom: 1px solid #000000">Y8565J 10 1</DIV>
</DIV>

<DIV align="center" style="font-size: 10pt">(CUSIP Number)
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 16pt; width: 100%">Francelyn Bethel<BR>
Bayside House, Bayside Executive Park<BR>
West Bay Street &#38; Blake Road, P.O. Box AP 59212<BR>
Nassau, Bahamas, Tel: (242) 502-8880
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; width: 100%">with
a copy to:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; width: 100%; border-bottom: 1px solid #000000">David
Matheson, Esq.<BR>
Perkins Coie, LLP, 1120 NW Couch Street,
10<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Floor<BR>
Portland, Oregon 97209
</DIV>

<DIV align="center" style="font-size: 10pt">(Name, Address and Telephone Number of Person Authorized to<BR>
Receive Notices and Communications)
</DIV>


<DIV align="center">
<DIV style="font-size: 10pt; margin-top: 16pt; width: 100%; border-bottom: 1px solid #000000">December 19, 2006</DIV>
</DIV>

<DIV align="center" style="font-size: 10pt">(Date of Event Which Requires Filing of this Statement)
</DIV>

<P align="left" style="font-size: 10pt">If the filing person has previously filed a statement on Schedule&nbsp;13G to report the acquisition that is the subject of this Schedule&nbsp;13D, and is filing this schedule because of &#167;&#167;240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. <FONT face="wingdings" size="2">&#111;</FONT>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt">
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
<TD width="1%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD width="20%">&nbsp;</TD>
<TD width="55%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD width="9%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD width="9%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->


<TR valign="bottom">
<TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px">CUSIP No.</DIV></TD>
<TD>&nbsp;</TD>
<TD align="center" valign="top"><DIV style="border: 1px solid #000000">Y8565J 10 1&nbsp;</DIV></TD>
<TD>&nbsp;</TD>
<TD align="left" valign="top">Page</TD>
<TD>&nbsp;</TD>
<TD align="center" valign="top"><DIV style="border: 1px solid #000000">2&nbsp;</DIV></TD>
<TD>&nbsp;</TD>
<TD align="left" valign="top">of&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align="center" valign="top"><DIV style="border: 1px solid #000000">10&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P>&nbsp;<DIV style="width: 100%; border: 1px solid black"><DIV align="center">

<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="1" width="100%">
<!-- Begin Table Head --><TR style="font-size: 1px">
<TD width="5%">&nbsp;</TD>
<TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
<TD width="5%">&nbsp;</TD>
<TD width="5%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD width="83%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
<TD valign="middle" align="center" rowspan="4"><FONT style="font-size: 18pt"><B>1</B></FONT></TD>
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">NAMES OF REPORTING PERSONS:<BR>
<BR>
Teekay Shipping Corporation</TD>
</TR>
<TR valign="bottom"> <TD style="border-left: 1px solid #000000">&nbsp;</TD> <TD colspan="4" align="left">&nbsp;</TD> </TR> <TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):<BR>&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left"></TD>
</TR>

<TR style="font-size: 1px">
<TD style="border-top: 1px solid #000000">&nbsp;</TD>
<TD style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD valign="middle" align="center" rowspan="3"><FONT style="font-size: 18pt"><B>2</B></FONT></TD>
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):<BR><BR></TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">(a)&nbsp;&nbsp;&nbsp;<FONT face="wingdings" size="2">&#111;</FONT>&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">(b)&nbsp;&nbsp;&nbsp;<FONT face="wingdings" size="2">&#111;</FONT>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
<TD style="border-top: 1px solid #000000">&nbsp;</TD>
<TD style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD valign="middle" align="center" rowspan="3"><FONT style="font-size: 18pt"><B>3</B></FONT></TD>
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">SEC USE ONLY:</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
<TD style="border-top: 1px solid #000000">&nbsp;</TD>
<TD style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD valign="middle" align="center" rowspan="3"><FONT style="font-size: 18pt"><B>4</B></FONT></TD>
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">SOURCE OF FUNDS (SEE INSTRUCTIONS):</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="11" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="11" align="left">OO</TD>
</TR>

<TR style="font-size: 1px">
<TD style="border-top: 1px solid #000000">&nbsp;</TD>
<TD style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD valign="middle" align="center" rowspan="3"><FONT style="font-size: 18pt"><B>5</B></FONT></TD>
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e):</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left"><FONT face="wingdings" size="2">&#111;</FONT></TD>
</TR>

<TR style="font-size: 1px">
<TD style="border-top: 1px solid #000000">&nbsp;</TD>
<TD style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD valign="middle" align="center" rowspan="3"><FONT style="font-size: 18pt"><B>6</B></FONT></TD>
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">CITIZENSHIP OR PLACE OF ORGANIZATION:</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">The Republic of the Marshall Islands
</TD>
</TR>

<TR style="font-size: 1px">
<TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
<TD align="left" style="border-top: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000">&nbsp;</TD>
<TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
<TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD align="center" colspan="3">&nbsp;</TD>
<TD valign="middle" align="center" rowspan="3" style="border-left: 1px solid #000000; border-right: 1px solid #000000"><FONT style="font-size: 18pt"><B>7</B></FONT></TD>
<TD>&nbsp;</TD>
<TD align="left">SOLE VOTING POWER:</TD>
</TR>
<TR valign="bottom">
<TD align="center" colspan="3">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align="center" colspan="3">NUMBER OF</TD>
<TD>&nbsp;</TD>
<TD align="left">1,750,000 Common Units*</TD>
</TR>

<TR style="font-size: 1px">
<TD colspan="3">&nbsp;</TD>
<TD align="left" style="border-top: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000">&nbsp;</TD>
<TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
<TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD align="center" colspan="3">SHARES</TD>
<TD valign="middle" align="center" rowspan="3" style="border-left: 1px solid #000000; border-right: 1px solid #000000"><FONT style="font-size: 18pt"><B>8</B></FONT></TD>
<TD>&nbsp;</TD>
<TD align="left">SHARED VOTING POWER:</TD>
</TR>
<TR valign="bottom">
<TD align="center" colspan="3">BENEFICIALLY</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align="center" colspan="3">OWNED BY</TD>
<TD>&nbsp;</TD>
<TD>-0-</TD>
</TR>

<TR style="font-size: 1px">
<TD colspan="3">&nbsp;</TD>
<TD align="left" style="border-top: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000">&nbsp;</TD>
<TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
<TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>


<TR valign="bottom">
<TD align="center" colspan="3">EACH</TD>
<TD valign="middle" align="center" rowspan="3" style="border-left: 1px solid #000000; border-right: 1px solid #000000"><FONT style="font-size: 18pt"><B>9</B></FONT></TD>
<TD>&nbsp;</TD>
<TD align="left">SOLE DISPOSITIVE POWER:</TD>
</TR>
<TR valign="bottom">
<TD align="center" colspan="3">REPORTING</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align="center" colspan="3">PERSON</TD>
<TD>&nbsp;</TD>
<TD align="left">1,750,000 Common Units*</TD>
</TR>
<TR style="font-size: 1px">
<TD colspan="3">&nbsp;</TD>
<TD align="left" style="border-top: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000">&nbsp;</TD>
<TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
<TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD align="center" colspan="3">WITH</TD>
<TD valign="middle" align="center" rowspan="3" style="border-left: 1px solid #000000; border-right: 1px solid #000000"><FONT style="font-size: 18pt"><B>10</B></FONT></TD>
<TD>&nbsp;</TD>
<TD align="left">SHARED DISPOSITIVE POWER:</TD>
</TR>
<TR valign="bottom">
<TD align="center" colspan="3">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD align="center" colspan="3">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align="left">-0-</TD>
</TR>
<TR style="font-size: 1px">
<TD style="border-top: 1px solid #000000">&nbsp;</TD>
<TD style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD valign="middle" align="center" rowspan="3"><FONT style="font-size: 18pt"><B>11</B></FONT></TD>
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">1,750,000 Common Units*</TD>
</TR>

<TR style="font-size: 1px">
<TD style="border-top: 1px solid #000000">&nbsp;</TD>
<TD style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD valign="middle" align="center" rowspan="3"><FONT style="font-size: 18pt"><B>12</B></FONT></TD>
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">CHECK IF THE AGGREGATE AMOUNT IN ROW (11)&nbsp;EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left"><FONT face="wingdings" size="2">&#111;</FONT>
</TD>
</TR>

<TR style="font-size: 1px">
<TD style="border-top: 1px solid #000000">&nbsp;</TD>
<TD style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD valign="middle" align="center" rowspan="3"><FONT style="font-size: 18pt"><B>13</B></FONT></TD>
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">17.9%*</TD>
</TR>

<TR style="font-size: 1px">
<TD style="border-top: 1px solid #000000">&nbsp;</TD>
<TD style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD valign="middle" align="center" rowspan="3"><FONT style="font-size: 18pt"><B>14</B></FONT></TD>
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD style="border-left: 1px solid #000000">&nbsp;</TD>
<TD colspan="4" align="left">CO</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>
</DIV>

<P align="left" style="font-size: 10pt">*&nbsp;As described in Items&nbsp;3 and&nbsp;4, below, upon the closing of the
Issuer&#146;s initial public offering (the &#147;Offering&#148;) of common units (&#147;Common Units&#148;) representing limited partner interests
in Teekay Offshore Partners L.P. (the &#147;Issuer&#148;), Teekay Shipping Corporation beneficially owned 1,750,000&nbsp;Common Units
and 9,800,000&nbsp;subordinated units of the Issuer. Subject to the satisfaction of certain conditions, discussed in
Item&nbsp;6 below, the subordinated units are convertible into Common Units on a one-for-one basis. In addition,
Teekay Shipping Corporation owns 100% of Teekay Offshore GP L.L.C., the general partner of the Issuer.
Teekay Offshore GP L.L.C. has a 2% general partner interest in the Issuer and incentive distribution rights, which
represent the right to receive an increasing percentage of quarterly distributions in excess of specified amounts.
Teekay Shipping Corporation is the indirect beneficial owner of Teekay Offshore GP L.L.C.&#146;s general partner interest
in the Issuer and incentive distribution rights.


<P align="right" style="font-size: 10pt">2 of 10
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Item&nbsp;1.&nbsp;&nbsp;&nbsp;Security and Issuer</B></DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Schedule&nbsp;13D relates to Common Units, representing limited partner interests of Teekay
Offshore Partners L.P., a limited partnership organized under the laws of the Republic of the
Marshall Islands (the &#147;Issuer&#148;), with principal executive offices at Bayside House, Bayside
Executive Park, West Bay Street &#038; Blake Road, P.O. Box AP-59212, Nassau, Bahamas.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Item&nbsp;2.&nbsp;&nbsp;&nbsp;Identity and Background</B></DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Schedule&nbsp;13D relates to Teekay Shipping Corporation, a corporation existing under the
laws of the Republic of the Marshall Islands (the &#147;Reporting Person&#148;), with its principal executive
offices at Bayside House, Bayside Executive Park, West Bay Street &#038; Blake Road, P.O. Box AP-
59212, Nassau, Bahamas. The Reporting Person owns 100% of Teekay Offshore GP L.L.C., a limited
liability company organized under the laws of the Republic of the Marshall Islands and the general
partner of the Issuer (the &#147;General Partner&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Reporting Person is principally in the business of international
crude oil, liquified natural gas and petroleum
product transportation services.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The name, principal occupation or employment and principal business address and citizenship of
each director and executive officer of the Reporting Person are as set forth on <U>Schedule&nbsp;A</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the past five years, neither the Reporting Person nor, to the knowledge of the Reporting
Person, any of the individuals set forth on <U>Schedule&nbsp;A</U> has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or been a party to any action as
a result of which it is subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to federal or state securities laws or finding
any violation with respect to such laws.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Item&nbsp;3.&nbsp;&nbsp;&nbsp;Source and Amount of Funds or Other Consideration</B></DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Reporting Person and the General Partner formed the Issuer as a Marshall Islands limited
partnership to own and operate certain assets and businesses previously owned and operated by the
Reporting Person and its subsidiaries. The General Partner obtained a 2% general partner interest
and the Reporting Person obtained a 98% limited partner interest in the Issuer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to the closing of the Issuer&#146;s initial public offering of
8,050,000 of its Common Units (the
&#147;Offering&#148;), the Reporting Person contributed certain assets and liabilities to the Issuer and
retained its 98% limited partner interest in the Issuer. At the closing of the Offering, the
Reporting Person&#146;s limited partner interest in the Issuer converted into 1,750,000 Common Units and
9,800,000 subordinated units of the Issuer. Subject to the satisfaction of certain conditions,
discussed in Item&nbsp;6 below, the subordinated units are convertible into Common Units on a
one-for-one basis.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Item&nbsp;4.&nbsp;&nbsp;&nbsp;Purpose of Transaction</B></DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Reporting Person acquired the Issuer&#146;s securities as part of the transaction described in
Item&nbsp;3 above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the Amended and Restated Limited Liability Company Agreement of Teekay Offshore GP
L.L.C., the Reporting Person has the right to appoint the board of directors of the General
Partner. Through the right to appoint a majority of the board of directors of the General Partner,
the Reporting Person has the ability to
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">influence
the management, policies and control of the Issuer with the aim of increasing the
value of the Issuer, and thus of the Reporting Person&#146;s investment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The subordinated units owned of record by the Reporting Person are convertible into Common
Units on a one-for-one basis once certain financial tests are met, but generally not beginning
before December&nbsp;31, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of the date of this Schedule&nbsp;13D, the Reporting Person has no plans or proposals which
relate to or would result in any of the following actions (except as disclosed herein and except
that the Reporting Person or its affiliates may, from time to time or at any time, subject to
market conditions and other factors, purchase additional Common Units in the open market, in
privately negotiated transactions or otherwise, or sell at any time all or a portion of the Common
Units now owned or hereafter acquired by them to one or more
purchasers):
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the acquisition by any person of additional securities of the Issuer, or the disposition
of securities of the Issuer;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an extraordinary corporate transaction, such as a merger, reorganization or liquidation,
involving the Issuer or any of its subsidiaries;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a sale or transfer of a material amount of assets of the Issuer or any of its
subsidiaries;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any change in the present board of directors or management of the General Partner of the
Issuer, including any plans or proposals to change the number or term of directors or to
fill any existing vacancies on the board;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any material change in the present capitalization or dividend policy of the Issuer;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any other material change in the Issuer&#146;s business or
partnership structure;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>changes in the Issuer&#146;s charter, bylaws or instruments corresponding thereto or other
actions which may impede the acquisition of control of the Issuer by any person;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>causing a class of securities of the Issuer to be delisted from a national securities
exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a
registered national securities association;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a class of equity securities of the Issuer becoming eligible for termination of
registration pursuant to Section&nbsp;12(g)(4) of the Act; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any action similar to any of those enumerated above.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the terms of the First Amended and Restated Agreement of Limited
Partnership of Teekay Offshore Partners L.P. (the &#147;Partnership Agreement&#148;), among other conditions,
the General Partner may not be removed from its position as general partner of the Issuer unless
66-2/3% of the outstanding Common Units and subordinated units, voting together as a single class, including
units held by the General Partner and its affiliates, vote to approve such removal. The ownership
of more than 33-1/3% of the outstanding units by the General Partner and its affiliates would give
them the practical inability to prevent the General Partner&#146;s removal. As of the closing of the
Offering, the Reporting Person owns a 100% interest in the General Partner and 58.9% of the
outstanding Common Units and subordinated units. Because the Reporting Person controls greater than 33-1/3%
of the outstanding units, it can prevent the removal of the General Partner.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Reporting Person, through its direct control of the General Partner and its indirect
control of the Issuer and its subsidiaries, will be able to prevent the Issuer, its subsidiaries
and the General Partner from taking certain significant actions without the approval of the
Reporting Person. These actions include:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>certain acquisitions, borrowings and capital expenditures by the Issuer, its
subsidiaries or the General Partner</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>issuances of equity interests in the Issuer or its subsidiaries; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>certain dispositions of equity interests in, or assets of, the Issuer, the General
Partner or the Issuer&#146;s subsidiaries.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;References to, and descriptions of, the Partnership Agreement of the Issuer as set forth in
this Item&nbsp;4 are qualified in their entirety by reference to the Partnership Agreement filed as
Appendix&nbsp;A to the Issuer&#146;s final prospectus, filed with the Commission pursuant to Rule&nbsp;424(b)(4)
under the Securities Act of 1933, on December&nbsp;14, 2006
(No.&nbsp;333-139116), which is incorporated by
reference in its entirety in this Item&nbsp;4.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Item&nbsp;5.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Interest in Securities of the Issuer</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;The Reporting Person beneficially owns 1,750,000 Common Units, representing 17.9% of the
outstanding Common Units of the Issuer. The Reporting Person also beneficially owns 9,800,000
subordinated units of the Issuer, representing 100% of the Issuer&#146;s subordinated units. As
described in Item&nbsp;6 below, under certain circumstances, the subordinated units held by the
Reporting Person are convertible into Common Units on a one-for-one basis.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;The Reporting Person has the sole power to vote or direct the vote and to dispose or
direct the disposition of the Common Units and subordinated units owned by the Reporting Person.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;Except as described herein, the Reporting Person has not effected any transactions in the
Common Units during the past 60&nbsp;days.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;Except for the cash distribution described in Item&nbsp;6 below, no other person is known by
the Reporting Person to have the right to receive or the power to
direct the receipt of distributions
from, or the proceeds from the sale of, Common Units beneficially owned by the Reporting Person.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Item&nbsp;6.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
information provided or incorporated by reference in Items&nbsp;3 and&nbsp;4 is hereby
incorporated by reference in this Item&nbsp;6.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Omnibus Agreement</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
the terms of an Omnibus Agreement, dated December&nbsp;19, 2006  (the &#147;Omnibus Agreement&#148;), entered into among the
Issuer, the Reporting Person, the General Partner, Teekay LNG Partners L.P. (&#147;LNG&#148;), its general
partner Teekay GP L.L.C., Teekay L.N.G. Operating L.L.C., Teekay Offshore Operating L.P.
(&#147;OPCO&#148;), and Teekay Offshore Operating, GP L.L.C., among
other things:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Reporting Person and LNG agreed, and will cause their respective controlled
affiliates (other than the Issuer, the Issuer&#146;s subsidiaries,
OPCO and the General Partner) to agree, among other things,
not to own, operate or charter shuttle tankers, floating
storage and offtake units or floating production, storage and
offloading units (collectively, &#147;offshore vessels&#148;) and related time charters or contracts of
affreightment under certain circumstances. The
Issuer agreed and will cause
its controlled affiliates to agree, not to own, operate or charter conventional crude oil
tankers or liquified natural gas carriers under certain circumstances.</TD>
</TR>

</TABLE>
</DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Reporting Person and LNG granted, and will cause their respective controlled
affiliates other than the Issuer, the Issuer&#146;s subsidiaries,
OPCO and the General Partner to grant, to the Issuer a 30-day right of first offer on any
proposed sale, transfer or other disposition or rechartering of certain offshore vessels, and the
Issuer agreed, and will cause its subsidiaries to agree, to grant a similar right of first offer
(1)&nbsp;to the Reporting Person for certain conventional crude oil tankers and (2)&nbsp;to LNG for any LNG
carriers the Issuer or its controlled affiliates might own, acquire or charter.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Issuer will have the right to purchase, for fair market value, certain of
Teekay Petrojarl ASA&#146;s existing offshore vessels and its joint
venture interests in certain offshore vessel projects if the Reporting Person
acquires 100% of Teekay Petrojarl ASA.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Reporting Person will indemnify the Issuer for a period of five years against
certain environmental and toxic tort liabilities to the extent arising prior to the closing date of
the Offering and relating to OPCO&#146;s assets and liabilities as of
the Closing of the Offering. There is an aggregate cap of $10&nbsp;million on the amount of indemnity coverage provided by the
Reporting Person for the environmental and toxic tort liabilities.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Reporting Person will also indemnify the Issuer for liabilities related to:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>certain defects in title to OPCO&#146;s assets and
failure to obtain, prior to the closing of the Offering, certain consents and
permits necessary to own and operate such assets, which liabilities arise within
three years after the closing of the Offering; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>certain income tax liabilities attributable to the operation of OPCO&#146;s assets
prior to closing of the Offering.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Amended and Restated Agreement of Limited Partnership of Teekay Offshore Partners L.P.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash Distributions</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the terms of the Issuer&#146;s Partnership Agreement, the Issuer intends to make
minimum quarterly distributions of $0.35 per Common Unit to the extent the Issuer has sufficient
cash from its operations after the establishment of cash reserves and payment of fees and expenses,
including payments to the General Partner. In general, the Issuer will pay any cash distributions
made each quarter to its unitholders in the following manner:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>first, 98% to the holders of Common Units and 2% to the General Partner, until each
Common Unit has received a minimum quarterly distribution of $0.35 plus any arrearages
from prior quarters;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>second, 98% to the holders of subordinated units and 2% to the General Partner,
until each subordinated unit has received a minimum quarterly distribution of $0.35;
and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>third, 98% to all unitholders, pro rata, and 2% to the General Partner, until each
unit has received a distribution of $0.4025.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If cash distributions per unit exceed $0.4025 in any quarter, the General Partner will receive
increasing percentages, up to a maximum of 50%, of the cash distributed in excess of that amount.
These distributions are referred to as &#147;incentive distributions.&#148;
</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->6 of 10<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conversion of Subordinated Units</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant the terms of the Partnership Agreement, in any quarter during the subordination
period (the period subordinated units are outstanding) the subordinated units are entitled to
receive the minimum quarterly distribution of $0.35 only after the Common Units have received the
minimum quarterly distribution and arrearages in the payment of the minimum quarterly distribution
from prior quarters. Subordinated units will not accrue arrearages. The subordination period will
end once the Issuer meets certain financial tests set forth in the Partnership Agreement, but it
generally will not end before December&nbsp;31, 2009. These financial tests require the Issuer to have
earned and paid the minimum quarterly distribution on all of the outstanding units for three
consecutive, non-overlapping four-quarter periods. When the subordination period ends, all
remaining subordinated units will convert into Common Units on a one-for-one basis, and the Common
Units will no longer be entitled to arrearages.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Issuer has earned and paid at least $2.10 (150.0% of the annualized minimum quarterly
distribution) on each outstanding unit for any four-quarter period ending on or before the date of
determination, the subordinated units will convert into Common Units.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Call Right</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the terms of the Partnership Agreement, if, at any time, the General Partner and
its affiliates own more than 80% of the Common Units then outstanding, the General Partner has the
right, but not the obligation, to purchase all, but not less than all, of the remaining Common
Units at a price equal to the greater of (1)&nbsp;the average of the daily closing prices of the Common
Units over the 20 trading days preceding the date three days before notice of exercise of the call
right is first mailed and (2)&nbsp;the highest price paid by the General Partner or any of its
affiliates for Common Units during the 90-day period preceding the date such notice is first
mailed. The General Partner is not obligated to obtain a fairness opinion regarding the value of
the Common Units to be repurchased by it upon the exercise of this call right.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amended and Restated Limited Liability Company Agreement of Teekay Offshore GP L.L.C.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the Amended and Restated Limited Liability Company Agreement of Teekay Offshore GP
L.L.C., the Reporting Person has the right to designate the
individuals that serve on the board of
directors of the General Partner.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the best of the Reporting Party&#146;s knowledge, there are no other contracts, arrangements,
understandings or relationships (legal or otherwise) among the persons named in Item&nbsp;2 and between
such persons and any person with respect to any securities of the Issuer.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Item&nbsp;7.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Material to Be Filed as Exhibits</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;First Amended and Restated Agreement of Limited Partnership of Teekay Offshore Partners
L.P. (attached as Appendix&nbsp;A to the Issuer&#146;s final prospectus filed with the Commission pursuant to
Rule&nbsp;424(b)(4) on December&nbsp;14, 2006 (No.&nbsp;333-139116) and incorporated by reference herein in its
entirety).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;Omnibus Agreement among Teekay Shipping Corporation, Teekay GP L.L.C., Teekay LNG Operating
L.L.C., Teekay LNG Partners L.P., Teekay Offshore GP L.L.C., Teekay Offshore Partners L.P., Teekay
Offshore Operating GP L.L.C. and Teekay Offshore Operating L.P. (filed as Exhibit&nbsp;10.3 to the
Issuer&#146;s Registration Statement on Form F-1, filed with the Commission on December&nbsp;4, 2006 (No.
333-139116) and incorporated by reference herein in its entirety).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;&nbsp;&nbsp;Amended and Restated Limited Liability Company Agreement of Teekay Offshore GP L.L.C.
(filed as Exhibit&nbsp;3.4 to the Issuer&#146;s Registration Statement on Form F-1, filed with the Commission
on December&nbsp;4, 2006 (No.&nbsp;333-139116) and incorporated by reference herein in its entirety).
</DIV>

<P align="right" style="font-size: 10pt"><!-- Folio -->7 of 10<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After reasonable inquiry and to the best of my knowledge and belief, I certify that the
information set forth in this statement is true, complete and correct.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">December
22, 2006
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>TEEKAY SHIPPING CORPORATION</B><BR>
<BR>
&nbsp;<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Peter Evensen
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">Peter Evensen&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">Executive Vice President and Chief Strategy&nbsp;Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="right" style="font-size: 10pt"><!-- Folio -->8 of 10<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SCHEDULE A</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Directors and Executive Officers of Teekay:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Principal Occupation or Employment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Name and Position</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>and Principal Business Address</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Citizenship</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">C. Sean Day, Director and
Chairman of the Board
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President<BR>
Seagin International LLC<BR>
Three Pickwick Plaza, 2nd Floor,<BR>
Greenwich, Connecticut, USA 06830
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">United States</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Bjorn Moller, Director,
President and Chief Executive
Officer
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Teekay Shipping (Canada) Ltd.
Suite&nbsp;2000, Bentall 5
550 Burrard Street
Vancouver B.C. V6C 2K2
Canada
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Denmark</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Axel Karlshoej, Director and
Chairman Emeritus
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President<BR>
Nordic Industries<BR>
1437 Furneaux Road<BR>
Marysville, California, USA, 95901
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Denmark</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">James (Rod) Clark, Director
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3900 Essex Lane<BR>
Suite&nbsp;1200<BR>
Houston, Texas, USA 77027
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">United States</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dr. Ian D. Blackburne, Director
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">130 Blues Point Road<BR>
McMahons Point, NSW 2060, Australia
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Australia</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Peter S. Janson, Director
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">500 Avenue Road, Suite&nbsp;1107<BR>
Toronto, ON M4V 2J6<BR>
Canada
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Canada</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thomas Kuo-Yuen Hsu, Director
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Director<BR>
Expedo &#038; Company (London) Ltd.<BR>
40 George Street<BR>
London, United Kingdom, W1U 7DW
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">United Kingdom</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Eileen A. Mercier, Director
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Finvoy Management Inc.<BR>
199 Cranbrooke Avenue<BR>
Toronto, ON M5M 1M6 Canada
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Canada</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Tore I. Sandvold, Director
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sandvold Energy AS<BR>
c/o E.ONRuhrgas AG<BR>
Stortingsgaten 8<BR>
0161 Oslo<BR>
Norway
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Norway</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Peter Evensen, EVP, and Chief
Strategy Officer
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Teekay Shipping (Canada) Ltd.<BR>
Suite&nbsp;2000, Bentall 5<BR>
550 Burrard Street<BR>
Vancouver B.C. V6C 2K2<BR>
Canada
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">United States</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">David Glendinning, President,
Teekay Gas Services, a
division of Teekay Shipping
Corporation
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Teekay Shipping (Canada) Ltd.<BR>
Suite&nbsp;2000, Bentall 5<BR>
550 Burrard Street<BR>
Vancouver B.C. V6C 2K2<BR>
Canada
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">United Kingdom</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="right" style="font-size: 10pt"><!-- Folio -->9 of 10<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Principal Occupation or Employment</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Name and Position</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>and Principal Business Address</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Citizenship</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Graham Westgarth, President,
Teekay Marine Services, a
division of Teekay Shipping
Corporation
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Teekay Shipping (Canada) Ltd.<BR>
Suite&nbsp;2000, Bentall 5<BR>
550 Burrard Street<BR>
Vancouver B.C. V6C 2K2<BR>
Canada
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">United Kingdom</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Arthur J. Bensler, EVP,
Secretary and General Counsel
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Teekay Shipping (Canada) Ltd.<BR>
Suite&nbsp;2000, Bentall 5<BR>
550 Burrard Street<BR>
Vancouver B.C. V6C 2K2<BR>
Canada
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Canada</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Vincent Lok, SVP and Chief
Financial Officer
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Teekay Shipping (Canada) Ltd.<BR>
Suite&nbsp;2000, Bentall 5<BR>
550 Burrard Street<BR>
Vancouver B.C. V6C 2K2<BR>
Canada
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Canada</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Paul Wogan, President, Teekay
Tanker Services, a division of
Teekay Shipping Corporation
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Teekay Shipping (Canada) Ltd.<BR>
Suite&nbsp;2000, Bentall 5<BR>
550 Burrard Street<BR>
Vancouver B.C. V6C 2K2<BR>
Canada
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">United Kingdom</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Bruce Chan, SVP, Corporate <BR>
Resources
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Teekay Shipping (Canada) Ltd.<BR>
Suite&nbsp;2000, Bentall 5<BR>
550 Burrard Street<BR>
Vancouver B.C. V6C 2K2<BR>
Canada
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Canada</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="right" style="font-size: 10pt"><!-- Folio -->10 of 10<!-- /Folio -->
</DIV>


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