ONGC hires two jack-ups from Aban Offshore

Aban Offshore Ltd. has received orders from India’s Oil and Natural Gas Corporation Ltd. (ONGC) worth $182.66 million for the deployment of two jack-up rigs.

Aban Offshore said it has received a firm order from ONGC for a jack-up rig Aban IV for a period of 3 years and the total value of the order is approximately USD 91.33 Million (equivalent to INR 557 Crores).

Aban Offshore has also received an order for the deployment of jack-up rig Aban III for a period of 3 years. The total value of the order is approximately USD 91.33 Million (equivalent to INR 557 Crores).

Both contracts are expected to start during the first quarter of 2015.

To remind, ONGC previously hired the two rigs in 2011 for a period of three years.