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Teekay Offshore Partners L.P. Announces Availability of 2011 Annual Report

HAMILTON, BERMUDA — (Marketwire) — 05/17/12 — Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (NYSE: TOO) (Teekay Offshore or the Partnership) announced today that the Partnership–s 2011 Annual Report on Form 20-F has been filed with the U.S. Securities and Exchange Commission (SEC), effective April 24, 2012. Copies are available on Teekay Offshore–s website at . Unitholders may request a printed copy of this annual report, including the complete audited financial statements, free of charge by contacting Teekay Offshore Investor Relations.

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 40 shuttle tankers (including four chartered-in vessels and four committed newbuildings), three floating production, storage and offloading (FPSO) units, five floating storage and offtake (FSO) units and ten conventional oil tankers. In addition, Teekay Offshore has rights to participate in certain other FPSO and shuttle tanker opportunities provided by Teekay Corporation (NYSE: TK) and Sevan Marine ASA (OSLO: SEVAN). The majority of Teekay Offshore–s fleet trades on long-term, stable contracts and it is structured as a publicly-traded master limited partnership (MLP).

Teekay Offshore–s common units trade on the New York Stock Exchange under the symbol “TOO”.

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

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