Teekay Offshore Partners L.P. : Teekay Offshore Partners L.P. Declares Distribution

    Teekay Offshore Partners L.P. : Teekay Offshore Partners L.P. Declares

HAMILTON, BERMUDA--(Marketwire - January 18, 2013) - Teekay Offshore GP LLC,
the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the
Partnership) (NYSE: TOO), has declared a cash distribution of $0.5125 per unit
for the quarter ended December 31, 2012. The cash distribution is payable on
February 14, 2013 to all unitholders of record on February 1, 2013.

About Teekay Offshore Partners L.P.

Teekay Offshore Partners L.P. is an international provider of marine
transportation, oil production and storage services to the offshore oil
industry focusing on the fast-growing, deepwater offshore oil regions of the
North Sea and Brazil. Teekay Offshore owns interests in 37 shuttle tankers
(including four chartered-in vessels and four committed newbuildings), five
floating storage and offtake (FSO) units, six conventional oil tankers, and
three floating production, storage and offloading (FPSO) units. Teekay
Offshore also has rights to participate in certain other FPSO and shuttle
tanker opportunities provided by Teekay Corporation (NYSE: TK) and Sevan
Marine ASA (Oslo Bors: SEVAN). The Partnership has recently accepted an offer
from Teekay Corporation to acquire the Voyageur Spirit FPSO and has entered
into an agreement to acquire a 2010-built HiLoad Dynamic Positioning unit from
Remora AS. The majority of Teekay Offshore's fleet trades on long-term, stable
contracts and it is structured as a publicly-traded master limited partnership

Teekay Offshore Partners' common units trade on the New York Stock Exchange
under the symbol "TOO".

Teekay Offshore Partners L.P.
Kent Alekson
Investor Relations Enquiries
+1 (604) 609-6442


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Source: Teekay Offshore Partners L.P. via Thomson Reuters ONE
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