Aban Offshore slumps as gas platform sinks

Aban Offshore has plunged 16% to Rs 856 after the company's offshore gas rig in Venezuela sunk near the Venezuelan coast.

The Aban Pearl offshore rig, a semi submersible drilling unit built in 1977 partially sunk into the ocean, reports say. All the 98 people on the rig have been evacuated.

“Aban Pearl, a semisubmersible ship owned by one of the company's subsidiaries and engaged on a contract basis at offshore Venezuela, has reportedly sunk in the early hours of 13 May. At the time of the reported incident, the rig was manned with 95 personnel and all personnel were evacuated safely. The causes of semisubmersible sinking are unknown at this stage,” the company said in its statement to the stock exchange.

The stock opened at Rs 980 and touched low of Rs 815. Around 1.5 million equity shares changed hands on the counter so far on the NSE.