Aban Offshore Receives & 182m Orders from ONGC

Source: Bloomberg 10/10/2014, Location: Asia

Aban Offshore Ltd has received two orders from Oil and Natural Gas Corp. Ltd (ONGC) worth $182.66 million (around Rs.1,114 crore today) for deployment of two offshore drilling rigs, the firm said.

In a filing to BSE, Aban said that it had received a firm order for the deployment of its jack-up rig Aban IV for a period of three years. The order is worth $91.33 million (Rs.557 crore).

Aban has also received another firm order for three-year deployment of one more jack-up rig, Aban III, worth $91.33 million (Rs.557 crore).

Both contracts are expected to commence during the first quarter of calendar year 2015, the firm said.

At 11.40am, Aban Offshore shares rose 0.5% to Rs.571 apiece while India's benchmark Sensex Index fell 1% to 26,379.20 points.


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Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

Related Articles: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 


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