Aban Offshore Ltd
Aban Offshore Ltd (AOL) emerged as India’s largest offshore drilling contractor. The inception of the company happened in 1986. The company engaged in several offshore drilling services which include exploratory services, drilling services, production of hydrocarbons, manning and management.
Right now, AOL holds eighteen offshore drilling and production units. Also, it is one of the top ten offshore drilling asset owners in the world.
The vision of the company is to emerge as the leading global offshore company by offering top-notch services for the national and international market. Moreover, it wants to be in the front line in the fiercely competitive business environment.
Milestones of Aban Offshore Ltd:
At first, ABAN Group was a small engineering firm in Chennai with the name Aban constructions. The said firm established by late Mr M. A. Abraham in 1965.
1986: Incorporation of Aban Offshore Ltd
1987: The company imported 2 jack-up rigs from the USA to India. Also, AOL started its first contract drilling service in 1987, offered to the ONGC.
Received a letter of intent from ONGC for charter hire of a drillship in return to extend the contract for two more years.
The firm managed to get a manning and management contract against a global tender form ONGC.
During this year, many private companies in India chose to exit the drilling business. Buy, AOL wanted to increase its focus on the arena with fresh rigs, acquisitions and mergers.
As fleet addition, the company acquired a 300-ft. jack-up rig from Mahindra & Mahindra Ltd.
The company committed to building a 3 million TPA capacity petroleum refinery.
Ordered 62 wind turbines by AOL to enhance its business
AOL acquired Hitech Drilling Services Ltd belonged to Tata Group in order to boost AOL’s fleet to four rigs. The acquisition enables the company to enter the FPSO business with the FPU Tahara owned by Hitech.
AOL added Aban V and Aban VI and a drillship named Frontier Ice under Fleet Addition. As part of the international expansion strategy, it launched Aban Singapore Pte Ltd(ASPL).
During this year, ASPL acquires a 33.7% stake in Sinvest ASA with eight new premium jack-ups on order.
Board of Directors:
The company’s management includes Mr P Murari (Chairman), Mr Reji Abraham (Managing Director), Mr P Venkateswaran (Deputy Managing Director), Mr C P Gopalkrishnan, Mr K Bharathan, Mr Ashok Kumar Rout, Ms Deepa Reji Abraham, and, Ms Subhashini Chandran.