Aban Offshore’s subsidiary's contract gets renewed for 1 year

Aban Offshore’s jack-up rig ‘Deep Driller 1’ contract has been further renewed for a period of one year. The estimated revenues from this additional period of 1 year would be approximately $39.25 million.  The operator with whom the contract has been entered into for the deployment of the jack-up rig has exercised his option, pursuant to which the contract got extended till the 4th quarter of 2012. Deep Driller 1 is wholly owned by company's step down subsidiary.

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.