Aban Offshore Inks Deal to Provide Aban II to ONGC for $50M

Aban Offshore Ltd., an India-based drilling services provider, received a letter of award from the country's state-owned Oil and Natural Gas Corp. Ltd. (ONGC) for the provision of jackup Aban II (250' MS), the company said in a filing on local stock exchange BSE Monday.

The contract, valued at $50 million (INR 32.5 million), will cover a three year period.

Aban II is expected to commence operations for ONGC during the first quarter of 2016.

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