Through its wholly owned step down subsidiaryAban Offshore announced that its wholly owned step down subsidiary has received a Letter of Award for the deployment of three jack-up rigs owned by step-down subsidiaries of the Company, in the United Arab Emirates.
While two of the above said jack-up rig deployments are for a firm period of four years each, the deployment of the third jack-up rig is for a firm period of three years and an optional period of two years. Two of the jack-up rigs are expected to commence deployment during the last quarter of calendar year 2018 and the third jack-up rig is expected to commence deployment during the first quarter of calendar year 2019.
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