Aban Offshore Books 2 Rig Orders in India, Qatar

MUMBAI(Dow Jones), Apr. 2, 2010

India's Aban Offshore said Thursday it has received two orders to deploy jackup rigs which expect to generate $43.5 million in revenue for the company over the contract period.

The first contract is to deploy a rig off India's coast for one year and is likely to fetch $41.0 million, the offshore drilling and oilfield services provider said in a statement to the Bombay Stock Exchange. The agreement has an option to extend the contract period, it added.

The second contract is to deploy a rig in Qatar for six weeks, and the company expects $2.5 million from it, Aban said.

Aban didn't name the customers, but said it expects to deploy the rigs in the second quarter of 2010.

Copyright (c) 2010 Dow Jones & Company, Inc.

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