Companies

Aban Offshore wins Rs 1,050-cr ONGC contract

PTI Chennai | Updated on March 12, 2018

Aban Offshore, which claims to be the country’s largest offshore drilling contractor, has received a Rs 1,050 crore-order from state-owned ONGC Ltd.

The company said in a filing to the BSE that it has received the Letter of Award (LoA) for deployment of drillship — Aban Ice for a period of three years.

“The total value of the LoA is approximately $185 million (equivalent to Rs 1,050 crore)”, the company said.

The project is expected to commence during the fourth quarter of this financial year.

Shares of the company were trading at Rs 302.70 apiece, up 1.85 per cent over the previous close in afternoon session on the BSE.

Published on June 07, 2013

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