Teekay Offshore Partners L.P. has agreed to acquire a 50% interest in the Cidade de Itajai FPSO from Teekay Corporation (Teekay) for about US $204 million. The Cidade de Itajai FPSO is operating on the Baúna and Piracaba fields in the Santos basin off Brazil under a nine-year, fixed-rate, time-charter contract with Petrobras. Odebrecht Oil and Gas S.A. holds the remaining 50% interest in the FPSO.