Aban Offshore witnessed a surge in share price on Friday after the company received two orders aggregating to Rs 11.14 billion from ONGC. The first order is for the deployment of jack-up rig Aban IV for a period of 3 years. The total value of this firm order is approximately USD 91.33 million (equivalent to Rs 5.57 billion). Contract is expected to commence during the first quarter of calendar year 2015.

The other order is for the deployment of jack-up rig Aban III for a period of 3 years. The total value of this firm order is approximately USD 91.33 million (equivalent to Rs 5.57 billion). Contract is expected to commence during the first quarter of calendar year 2015.

Shares of the company are trading at Rs 629, up Rs 61.05, or 10.75% at the Bombay Stock Exchange (BSE) on Friday at 3:04 p.m.

The scrip has touched an intra-day high of Rs 651 and low of Rs 546.35. The total volume of shares traded at the BSE is 1,309,405.