Texaco Adds Another VLCC To Company Fleet Of 189 Tanker

The Texaco South America, a very large crude carrier (VLCC) of 270,000 deadweight tons built for Texaco's international fleets by Astilleros y Talleres del Noroeste S.A. (ASTANO), was christened recently in ceremonies at the ASTANO shipyard in El Ferrol del Caudillo, Spain.

Sponsor of the Texaco South America at the launching was Mrs. Alfred C. DeCrane Jr., whose husband is vice president in charge of Texaco's Producing Department-Eastern Hemisphere.

The Texaco South America is named in honor of a continent where Texaco has marketing operations in every country. In addition, Texaco is carrying on exploratory or producing activities in the South American countries of Bolivia, Colombia, Ecuador, and Paraguay.

The vessel will be owned and operated by Texaco Panama Inc., under the Panamanian flag. Texaco Panama, a wholly owned subsidiary of Texaco Inc., is engaged in worldwide transportation, as well as in marketing in the Republic of Panama.

The new tanker will be delivered in mid-1976. She will share the distinction with the Texaco Spain and the Texaco London, also built by ASTANO, of being among the largest VLCCs in Texaco's international fleets.

The Texaco South America has an overall length of 1,129 feet (344 meters), a molded beam of 176 feet (54 meters), and a loaded draft of 67 feet (20 meters). The ship will be powered by geared steam turbines developing 32,000 metric shaft horsepower. Service speed will be 15 knots.

The Texaco South America will join one of the world's largest tanker fleets. Texaco Inc. and its subsidiaries own or operate under term charter 189 tankers totaling approximately 18,923,518 deadweight tons.

The new Texaco VLCC is equipped with an inert gas system to maintain a nonflammable and nonexplosive atmosphere in her cargo tanks. She features the latest electronic navigational aids, including a sonar/doppler system designed to improve safety when anchoring or docking.

Texaco has been an industry leader in the installation of this system.

The Texaco South America is also fitted with special tanks for the onboard retention of oil residues.

This procedure is required on all Texaco tankers in order to maintain the company's policy of prohibiting the voluntary discharge of oil at sea.

The Texaco South America has the capacity to carry more than 2,000,000 barrels of crude oil on a single voyage. This volume would be sufficient to supply the complete requirements of the new 142,500-barrel-a-day refinery at Tarragona, Spain, for two weeks of continuous, round-the-clock operation.

Through its equity interest in Enpetrol, the Spanish refining company, Texaco has an 11-percent equity in this refinery, which began operations in December 1975.

Other activities in Spain in which Texaco is engaged range from exploration and producing to the marketing of petroleum products.

Texaco is currently carrying on an active exploratory program in two areas off the coast of Spain.

Through its affiliate, American Overseas Petroleum (Spain), Ltd., Texaco is engaged in exploration in joint ventures in the Gulf of Valencia and the Bay of Biscay.

Through its wholly owned subsidiary Texaco (Spain) Inc., Texaco has a 25-percent interest in the Spanish producing field at Ayoluengo, some 150 miles due north of Madrid. This is the only onshore producing field in Spain.

Through its wholly owned subsidiary Texaco Canarias S.A., Texaco markets petroleum products to international aviation and marine accounts in Spain. The company also markets specialty lubricating oils, petrochemicals and petroleum additives in Spain.