Aban Offshore's gas platform Aban Pearl sunk off the coast of Venezuela. The semi-submersible rig Aban Pearl collapsed due to a failure in the operating system, prompting evacuation of all workers aboard the rig. The rig contributed 10-12% to the firm’s turnover.
Aban Pearl was being operated by Venezuela’s state oil company, PDVSA, which is operating the field, at daily rates of $358,000 dollars. The gas platform was drilling in the Mariscal Sucre offshore natural gas project, off the coast of Venezuela's Sucre state. The rig could drill upto 1,250 feet and is one of the 20 ships and rigs Aban owns.
Aban Offshore has a commitment to pay $356 million worth of debt in FY11 and $642 million in FY 12. crackcrack
