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Aban Offshore bags orders worth $182.66 million from ONGC

10 Oct 2014 Evaluate

Aban Offshore has bagged total orders worth $182.66 million from ONGC. The first firm order is for the deployment of jack-up rig ‘Aban IV’ for a period of 3 years. The total value of this order is approximately $91.33 million equivalent to Rs 557 crore. The contract is expected to commence during the first quarter of calendar year 2015.

The company has also bagged a firm order for deployment of jack-up rig ‘Aban III’ for a period of 3 years. The total value of this firm order is approximately $91.33 million equivalent to Rs 557 crore. The contract is expected to commence during the first quarter of calendar year 2015.

Aban Offshore (formerly Aban Loyd Chiles Offshore) is India’s largest offshore drilling services provider to oil companies, mainly for ONGC. It is a company which provides oil field services for offshore exploration and production of hydrocarbons to the oil industry in India and abroad.

Peers
Company Name CMP
ONGC 224.90
Oil India 443.80
Jindal Drilling&Inds 571.45
Deep Industries 745.50
Asian Energy Service 455.10
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