Turkey procures its third drillship: Report

State-run Turkish Petroleum Corporation (TPAO) has added another drilling vessel to its fleet for $37.5 million, according to a prominent Turkish maritime publication.

Sertao, moored at Port Talbot in Britain for two years, was acquired by TPAO in an auction, Istanbul-based Denizcilik Dergisi (Maritime Magazine) reported on Feb. 8.

Built in South Korea by Samsung in 2012, the Marshall Islands-flagged drilling ship was used by Brazil's state-run company Petrobras until 2015.

Although the market price Sertao was estimated at $120 million, Port Tablot agreed to sell it for such a low price to amortize the soaring berth costs and the depreciation of its value, Denizcilik said.

The 228-meter-long drilling ship's carrying capacity is nearly 62,000 tons and its current draught is reported to be 12 meters. It has a rated water depth of 3,000 meters and a drilling depth capacity of up to 11,400 meters.

The maximum drilling depth capability of Turkey's first two drilling vessels in operation, Fatih and Yavuz, is around 12,000 meters.

Turkey, as a guarantor nation for Turkish Cyprus, has been carrying out hydrocarbon exploration activities in the eastern Mediterranean with Fatih and Yavuz.

Turkey has consistently contested the Greek Cypriot administration's unilateral drilling in the Eastern Mediterranean, asserting that Turkish Cyprus also has rights to the resources in the area.

Oruç Reis and Barbaros Hayrettin Paşa, Turkey's seismic survey ships, also have been conducting seismic researches in the Mediterranean.

After striking a maritime deal with U.N.-backed government of Libya on Nov. 27, 2019, the Turkish Energy and Natural Resources Ministry announced its plans for new oil and gas exploration and...