Teekay Offshore Partners L.P. is an international provider of marine transportation and storage services to the offshore oil industry. The Company was formed as a Marshall Islands limited partnership by Teekay Corporation, a provider of marine services to the global oil and natural gas industries, to further develop its operations in the offshore market. As of June 1, 2009, Teekay Corporation, which owns and controls its general partner, owned a 47.99% limited partner interest in the Company. As of June 1, 2009, the Company’s fleet consisted of Shuttle Tankers, Conventional Tankers and floating storage and offtake (FSO) Units. The Company owns a 50.99% interest in Teekay Offshore Operating L.P. (OPCO) and controls its general partner; Teekay Corporation owns a 49% interest in OPCO. OPCO owns and operates a fleet of shuttle tankers, in addition to FSO units and double-hull conventional oil tankers.