Aban Offshore has received a Letter of Award (LoA) from ONGC for the charter hire of Drillship Aban ICE for a firm period of 3 years.

The total value of this contract is around USD 72.365 million (equivalent to Rs 4.71 billion). The deployment is expected to commence during the second quarter of calendar year 2017.

Total volume of shares traded on the bourses today was higher by 51.08% to 1,352,629 compared with 22-day average volume of 895,298.

Shares of the company declined Rs 1.25, or 0.56%, to settle at Rs 221.30. The total volume of shares traded was 298,621 at the BSE (Monday).