Aban's subsidiary bags order worth Rs 592 crore from ONGC

Aban provides drilling and support services for offshore oil exploration and production

Aban Offshore Limited (Aban Offshore's) subsidiary has bagged order worth Rs 592 crore.

Aban today informed National Exchange that it has received a Firm Letter of Award from ONGC for the deployment of the Drillship Aban Abraham for a firm period of two years.

The expected revenues from this deployment is estimated at $87 million (around Rs 592 crore).

The deployment is expected to commence during the fourth quarter of calendar year 2016.

Aban Offshore provides drilling and support services for offshore oil exploration and production.