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Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
13 July, 2025 16:06 IST
Aban Offshore receives LoA for deployment of 3 jack-up rigs in UAE
Source: IRIS | 12 Jul, 2018, 12.26PM
Rating: NAN / 5 stars.
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Aban Offshore announced that its wholly owned step down subsidiary has received a Letter of Award (LoA) for the deployment of three jack-up rigs owned by step-down subsidiaries of the company, in the United Arab Emirates.

While two of the above said jack-up rig deployments are for a firm period of four years each, the deployment of the third jack-up rig is for a firm period of three years and an optional period of two years.

Two of the jack-up rigs are expected to commence deployment during the last quarter of calendar year 2018 and the third jack-up rig is expected to commence deployment during the first quarter of calendar year 2019.

Shares of the company gained Rs 2.15, or 1.9%, to trade at Rs 115.45. The total volume of shares traded was 131,131 at the BSE (12.12 p.m., Thursday).

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