Aban bags ONGC orders worth $ 138 million

| | Updated on: Apr 18, 2011

Aban Offshore said on Monday that it has bagged firm orders worth $ 138 million (Rs 620 crore) from ONGC for the deployment of two jack-up rigs for three years period each.

“The Company has received firm orders from ONGC for the deployment of jack-up rigs Aban III and Aban IV for a period of three years each. The total value of these firm orders is approximately $ 138 million (equivalent to Rs 620 crore),” it said in a filing to the Bombay Stock Exchange.

However, the filing did not give details of where the two rigs will be deployed.

Last week the company had said that is has redeemed the outstanding foreign currency convertible bonds (FCCBs) worth Rs 349 crore (Japanese Yen 6.590 billion).

The redeemed FCCBs, issued in April 2006, included an outstanding principal amount of Japanese Yen 5.41 billion and redemption premium.

Published on April 18, 2011

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