Aban Offshore receives LoA

City-based Aban Offshore has received a letter of award from its subsidiary in Vietnam for its Rs 380 crore project towards deployment of jack-up rig deep driller.

"....A letter of award has been received for the deployment of the jack-up rig Deep Driller 5 (owned by company's step down subsidiary) Offshore Vietnam for a period of one year and an optional period of one year," Aban Offshore said in a BSE filing.

"The estimated revenues during the firm period is USD 61.3 million (approximately Rs 380 crore)", it said.

The contract is expected to commence during April 2014, it added.
 

Shares of the company were trading at Rs 432.15 apiece, up by 1.91 per cent over previous close in afternoon BSE.