Greece: Tsakos to Sign $620 M Contract for New Deepwater Drillship

Tsakos Energy Navigation is reportedly close to signing a contract worth US$620 million for a new ultra-deepwater drillship, to be built at a South Korean yard.

The order will be placed on condition that Tsakos firms up a five-year time-charter with a national oil company.

The vessel to be ordered will be capable of operating in water depths of 3,048 metres and will be capable of drilling to a depth of 12,192 metres.

As of April, 2007  Tsakos Energy Navigation’s proforma fleet consists of 53 vessels of 5.6 million metric tons deadweight (DWT). Today, TEN operates a fleet of 40 vessels all double-hull. Additionally, its newbuilding program of 13 vessels includes seven Aframax crude carriers, one Suezmax, two Panamax tankers and three Handysize product carriers representing 1.2 million DWT.

Source: Tenn,April 21, 2010;Image: Tenn

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