Aban Offshore gets $235-m insurance claim on rig

Aban Offshore has agreed to settle the claim at the assessed insurable value of $235 million and that 97 per cent of the claim amount had been received. The claim relates to the semi-submersible rig, Aban Pearl that sank in the seas off the Venezuelan coast in May where it was drilling a well for the Venezuelan oil company PDVSA. The balance amount is likely to be received shortly.

The contract with PDVSA was a lucrative one, which paid Aban a day rate of $350,000. Aban is now intent on completing the contract. The company has identified three deep water rigs for the purpose of completing the drilling job and has submitted a proposal to PDVSA.

The Venezuelan company would choose one of them. Aban, it is understood, does not expect a change in the day rates as the continuation of the job will be under the same contract. Aban expects to bag more drilling contracts from the Venezuelan government.