Aban Offshore receives order from Cairn Energy

Aban Offshore Ltd has announced that a letter of award has been received from Cairn Energy Sangu Field Ltd 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.

The stock was trading at Rs.3077, up by Rs.64.75 or 2.15%. The stock hit an intraday high of Rs.3144 and low of Rs.3015. The total traded quantity was 35367 compared to 2 week average of 39748.

Source : Equity Bulls

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