2007-08 Quarter 2 announcements
A Meeting of Board of Directors of the Company will be held on Friday the 12th October 2007 at the Registered Office of the Company at “ Janpriya Crest ” 113 Pantheon Road, Egmore, Chennai 600 008 to take on record the unaudited, estimated Quarterly Financial Results of the Company for the period ending on 30th September 2007.
Aban Offshore Ltd has received letters of Firm Order from ONGC for deployment of 3 rigs Aban III, Aban IV and Aban V, for a period of 3 years each, following completion of their existing contracts with ONGC . The operating Day Rate for each of these 3 fresh contracts is USD 156,600/- and the total value of the 3 contracts is approximately Rs.2000 crores.
Aban Offshore Ltd has entered into a Memorandum of Agreement with Bulford Dolphin Pte. Ltd. for the purchase of the semi – submersible rig Bulford Dolphin for a consideration of USD 211 Million. Delivery is expected to take place in the 4th quarter 2007.
a Letter of Award has been received from a leading E&P company in South Asia for deployment of the new built jack up Rig “Deep Driller 4”, for a firm period of 12 months with two options to the operator for a period of 6 months each. The estimated revenues for the firm period of deployment would be approximately USD 80 Million, including mobilization and demobilization. The Rig is likely to commence operations by 4th quarter of year 2007.
Hardy Exploration & Production (India) Inc (“HEPI”) has extended the contract for utilization of Floating Production Unit – Tahara for a further period of 2 years with effect from July 28, 2007. The revenues estimated during the extended period amounts to USD 63.875 million, excluding reimbursibles
At the Committee Meeting held on July 3, 2007, 590 ( Five Hundred and Ninety Only) Equity Shares of Rs.2/- each were allotted to the Employees of the Company under ESOS 2005
A Meeting of Board of Directors of the Company will be held on Thursday the 19th July 2007 the Registered Office of the Company at “ Janpriya Crest ” 113 Pantheon Road, Egmore, Chennai 600 008 to take on record the unaudited, estimated Quarterly Financial Results of the Company for the period ended 30th June 2007.
A Letter of award has been received from Cairn Energy Sangu Field Limited for deployment of the new built jack-up Rig Deep Driller 5, Offshore Bangladesh. The duration of the programme is estimated to be 180 days. The estimated revenues from the programme is USD 36.28 Million. The Rig is likely to start mobilizing to the location by September 2007
Venture Drilling AS, a company owned 50/50 by Sinvest AS (a wholly owned subsidiary of Aban Offshore Limited) and Petrolia Drilling ASA, has commenced drilling operations on 30th June 2007 under the drilling contract with Exxon-Mobil for deployment of the drillship Valentine Shashin (to be renamed Deep Venture) Offshore West Africa, with an estimated contract revenues of USD 220 million during the contract period of 18 months.