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Aban Offshore receives LoA for deployment of three jack-up rigs in UAE

Capital Market 

Through its wholly owned step down subsidiary

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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 12 2018. 11:56 IST
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