Aban Offshore secures Rs3,371 cr rig deployment deals

Aban Offshore secures Rs3,371 cr rig deployment deals
PTI
Comment E-mail Print Share
First Published: Tue, Aug 25 2009. 06 36 PM IST
Updated: Tue, Aug 25 2009. 06 36 PM IST
Mumbai: Oil exploration services provider Aban Offshore on Tuesday said that it has secured two deals worth Rs3,371 crore for supplying rigs.
The company has signed a contract worth $603 million (Rs2,925 crore) for the deployment of three newly build jack-up rigs in the Middle East, the company said in a statement to the Bombay Stock Exchange (BSE).
The company is expects to earn a revenue of about $92 million (Rs446 crore) from this contract, it said.
The deployment period of rigs is for three years each, it added.
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 closed at Rs1,210.45 down 0.47% from its previous close on the BSE.
Comment E-mail Print Share
First Published: Tue, Aug 25 2009. 06 36 PM IST