Aban Offshore signs contract for drilling project

Chennai: Chennai-based Aban Offshore said that its subsidiary company Venture Drilling AS signed a 18 month contract with Maersk Oil Angola for a drilling project at an operating day rate of $ 495,000 (around Rs 2 crore) after withholding tax.

The contract is expected to commence in July 2009. The estimated revenue from the contract is around $271 million (around Rs 1,191 crore).