Aban Offshore Clinches $182.7M Deals to Supply 2 Jackups to ONGC

Aban Offshore Limited, an India-based drilling services provider, has received contracts from the country's state-owned Oil and Natural Gas Corporation Limited (ONGC) to provide two jackups for drilling operations in local waters, the firm said in an announcement on its website Friday.

Under the first contract, valued at $91.33 million (INR 5.57 billion), Aban Offshore will supply jackup Aban IV (300' ILC) for a period of 3 years, scheduled to commence during the first quarter of 2015.

Like Aban IV, Aban Offshore will supply ONGC with the jackup Aban III (300' ILC) for a period of 3 years at the same contract price of approximately $91.33 million (INR 5.57 billion). The contract is also expected to be come into effect during the first quarter of 2015.

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