Aban Offshore Ltd.

India

According to SmartInvestor, Aban Offshore operated seven rigs in Iranian offshore sites as of September 2012. A reported 40 percent of Aban Offshore’s business comes from Iran. (SmartInvestor.in, September 21, 2012)

Date: April 2008

Deal: According to UpstreamOnline.com, Aban Offshore contracted a drilling rig to Iran’s state-owned Petropars in April 2008. The four-year contract was estimated to generate $300 million in revenues for Aban over four years, and the rig would be utilized in Phase 12 of the South Pars gas field in the Persian Gulf. (UpstreamOnline, April 21, 2008)  It is unclear if the deal was renewed after the initial four years.

Date: September 2009 - Unclear

Deal: According to Moneycontrol.com, Aban Offshore deployed two offshore rigs, the DD6 and Aban VII, with the Iran Offshore Oil Company (IOOC) in September 2009. Moneycontrol.com reported the daily cost for the IOOC to rent the DD6 was $160,000 to $180,000 per day, and was roughly $100,000 per day for the Aban VII. (Money Control, September 3, 2009)

U.S. Business Ties: According to Rigzone.com, Aban Offshore acquired the Aban VII rig from the Rowan Company in September 2005 for approximately $45 million in cash (Rigzone, September 5, 2005).

According to USASpending.gov, Aban Offshore has not received any contracts from the U.S. government  (USASpending.gov, accessed August 20, 2014).

 

Last Updated: August 20, 2014