In talks with banks, stakeholders for settlements of dues: Aban Offshore

Capacity utilisation of company's rigs at its disposal increased to 55% in 2019-20 from 38% in 2018-19

Offshore drilling contractor, Aban Offshore on Saturday said that it was in discussion with banks and other stakeholders for amicable settlements of dues.

Aban Offshore is the country’s largest offshore drilling services provider to oil companies, mainly to state-owned ONGC.
 

The company also said that capacity utilisation of its rigs at its disposal increased to 55% in 2019-20 from 38% in 2018-19, which resulted in revenue hike.
 

Sales rose 117.01 per cent to Rs 296.87 crore in the quarter ended June 2020 as against Rs 136.80 crore during the previous quarter ended June 2019. Company's total debt stands at