Aban Offshore Signs Contract With Brunei Shell Petroleum

Aban Offshore Limited has entered into a contract with Brunei Shell Petroleum Company Sdn Bhd. 

The objective of the contract is deployment of a jack-up rig Deep Driller 5 (DD5) offshore Brunei Darussalam. The contract is for a firm period of five years, followed by three optional periods of one year each. 

The deployment is likely to commence during the last quarter of calendar year 2017. Meanwhile, the stock is trading marginally bullish after gaining nearly 1% at 188.75 per share on BSE. 

On an yearly basis, the stock has underperformed the BSE Small-cap index and BSE Oil & Gas index.    

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