1987 - First 2 jack-up rigs arrive in India from the USA.
First well drilled by Aban Offshore Ltd for ONGC.
By the 1990s, many private sector companies in India chose to exit the drilling business. However, AOL preferred to increase its focus on the sector with newer rigs, acquisitions and mergers.
1993: Fleet Addition AOL purchases a 300-ft. jack-up rig from Mahindra & Mahindra Ltd.
2000 – 2001: Hitech Acquisition AOL acquires Hitech Drilling Services (India) Ltd., belonging to the Tata Group, boosting AOL’s fleet to four rigs. This also enables AOL to enter the FPSO business with the FPU ‘Tahara’ owned by Hitech.
2005: Fleet Addition AOL adds two jack-up rigs (Aban V and Aban VI) and a drill ship (Frontier Ice).
2005: International Expansion In line with its global expansion strategy, AOL launches Aban Singapore Pte Ltd. (ASPL) in November as its vehicle for international operations. ASPL, in turn, sets up 3 SPVs as step down subsidiaries, each equipped with a rig or drill ship.
2006: Sinvest Acquisition ASPL acquires a 33.7% stake in Sinvest ASA, a Norwegian company with eight new premium jack-ups on order. ASPL subsequently completes the acquisition in stages, including a mandatory offer to all shareholders.
AOL currently possesses eighteen offshore drilling and production units spiraling us to a prestigious position among the top 12 offshore drilling asset owners in the world.