Aban Loyd wins Rs 400cr deal from ONGC

Aban Loyd Chiles Offshore has received a letter of intent (LoI) from Oil and Natural Gas Corporation (ONGC) for a three-year contract for the rig Aban II.

According to a release issued by Aban to the BSE today, the total revenue under the contract would be approximately Rs 400 crore.

"The operations under the new contract will commence after completing the existing contract - by October/November 2006. Dry docking and upgradation, if required, will be carried out before commencement of the new contract," the release added.