Sovcomflot And Admiralty Shipyards Sign $260 Mln Arctic Tanker Contract

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by Staff Writers
St Petersburg (RIAN) May 19, 2006
Russia's largest tanker company and a St. Petersburg-based shipyard signed Wednesday a $260 million contract to build two Arctic tankers.

Under the contract between Sovcomflot and Admiralty Shipyards, two Arctic tankers with a deadweight of about 70,000 metric tons each are to be built to carry crude from the Prirazlomnoye oilfield in the Barents Sea, which has estimated reserves of about 600 million barrels.

The signing ceremony was attended by Russian Industry and Energy Minister Viktor Khristenko, Sovcomflot General Director Sergei Frank, Admiralty Shipyards General Director Vladimir Alexandrov, and St. Petersburg Governor Valentina Matviyenko.

Sovcomflot currently has a fleet of 51 vessels and specializes in operating ice class vessels for industrial projects in the Baltic, Far Eastern and Arctic regions, and Sergei Frank said that company intended to become a global leader in ice operations.

Admiralty Shipyards is a state-owned company that specializes in the design, production and modernization of civil and naval surface ships and submarines

Source: RIA Novosti

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