Aban Offshore secures Rs 3,371 cr rig deployment deals

Last Updated: Tuesday, August 25, 2009 - 20:06

Mumbai: Oil exploration services provider
Aban Offshore today said it has secured two deals worth Rs
3,371 crore for supplying rigs.

The company has signed a contract worth USD 603 million
(Rs 2,925 crore) for the deployment of three newly build
jack-up rigs (from the deep driller series) in the Middle
East, Aban Offshore said in statement to the Bombay Stock
Exchange (BSE).

The company is expects to earn a revenue of about USD 92
million (Rs 446 crore) from this contract, it said.

The deployment period of rigs is for three years each, it

The firm has also entered into a deal for the deployment
of a new build jack-up rig in Latin America for a period of
25.5 months.

The deployment of rigs in both the deals is likely to
commence in the third quarter of 2009, the offshore services
provider said.

However, the company did not disclose the identity of
parties with whom it has entered into the deals.

Shares of Aban Offshore today closed at Rs 1,210.45 down
0.47 per cent from its previous close on the BSE.

Bureau Report

First Published: Tuesday, August 25, 2009 - 20:06

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