The ship's primary missions are oceanic patrol, fishing control, escort, and maritime rescue.

It is powered by two MTU engines which supply 7,500 horsepower (5,600 kW) to two variable-pitch propellers for a maximum speed of 20 knots.

[1] The ship was built by Navantia in the company's shipyards at Ferrol, and was commissioned by the Spanish Navy on 29 June 1992.

However, Gibraltar maritime authorities instructed the merchant ship to remain at anchor and told Atalaya that Spain did not have jurisdiction over those waters.

[4][5] In August 2015, Atalaya intercepted and boarded a sailboat off the Azores Islands and confiscated 600 kg (1,300 lb) of cocaine that was in transit from South America to Galicia.