Aban Offshore gets Rs 1,050-cr order from ONGC

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

Press Trust of India Chennai
Last Updated : Jun 07 2013 | 2:44 PM IST
Aban Offshore, which claims to be the country's largest offshore drilling contractor, today said it has received a Rs 1,050 crore order from state-owned ONGC Ltd.

In a BSE filing, the Chennai-based company said 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.

ALSO READ: Aban Offshore: Utilisation improves, but debt still a concern

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

Shares of the company were trading at Rs 302.70 apiece, up by 1.85% over previous close in afternoon BSE.
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First Published: Jun 07 2013 | 2:20 PM IST

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