What Aban Offshore does

Aban Offshore Limited is a Chennai-headquartered, publicly listed (BSE/NSE: ABANOFF) offshore drilling contractor founded in 1986, originally as Aban Constructions by the late Mr. M. A. Abraham. The company provides contract drilling services to national and international oil companies using a fleet of jack-up self-elevating rigs (ABAN II–VIII series), dynamically positioned drillships (ABAN Abraham, ABAN ICE), and a floating production unit (Tahara, since sold), with active rigs capable of operating in water depths up to 375 feet and drilling depths up to 30,000 feet. The fleet historically numbered 18+ units across India, the Middle East, and Southeast Asia, but the company has divested the majority of its Deep Driller series and both drillships between 2021 and 2024 in a distress-driven asset-sale program.

The company monetizes primarily through day-rate-based multi-year drilling contracts with NOCs (ONGC, ADNOC Drilling) and IOCs (Shell, Petronas, TotalEnergies, Brunei Shell), supplemented by one-time proceeds from rig sales. QHSE management systems are certified to ISM Code, ISO 9001, ISO 14001, and OHSAS 18001 standards, and the company reports over 1 million hours worked without a Lost Time Incident. Distribution is direct enterprise sales with no channel intermediaries; offices are maintained in Chennai (HQ), Mumbai, Dubai, and Singapore, with Singapore-based wholly-owned subsidiaries historically holding rig assets.

Aban Offshore entered Corporate Insolvency Resolution Process (CIRP) on September 1, 2025 following NCLT Chennai's admission of Punjab National Bank's Section 7 IBC petition for default of Rs 366.09 crores, with an Interim Resolution Professional appointed in October 2025 and Prudent ARC emerging as the top bidder for PNB's Rs 1,080 crore exposure in a June 2026 Swiss auction at ~21% recovery. Total reported debt owed to lenders is stated at approximately Rs 40,000 crore, and Rs 281 crore of non-convertible preference shares have been in default since 2014 with multiple commercial suits pending. Q3 FY2025 consolidated revenue was Rs 91.31 crore, down 21.49% YoY.

Name

Aban Offshore

Legal name

Aban Offshore Limited

Website

https://abanoffshore.com

Company type

Public

Founded year

1986

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Aban Offshore is a Chennai-based, publicly listed offshore drilling contractor founded in 1986, providing contract day-rate drilling services to national and international oil companies using jack-up rigs and drillships. The company is currently undergoing Corporate Insolvency Resolution Process following NCLT admission in September 2025.

Ownership category

akta.pro rank

Product category

Offshore Drilling Services

NAICS

Support Activities for Oil and Gas Operations (213112), Support Activities for Mining (2131)

SIC

Drilling Oil & Gas Wells (1381), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Drilling & Workover Rigs (Land & Offshore) (EUALABAA)

akta.pro secondary industries

Offshore E&P (Shallow/Deepwater, Subsea Production Systems) (EUALAAAI), Marine & Offshore Energy O&M (Offshore Wind, Platforms, Subsea Assets) (EUAEAGAO)

Keywords

• Offshore drilling services
• Jack-up rig operations
• Drillship chartering
• Floating production systems
• Oil and gas exploration

Headquarters

HQ city

Chennai

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain

Revenue model

1. Offshore Drilling Services: Day-rate based drilling contracts with major oil and gas companies. Contracts typically spanning 1-3 years for jack-up rig deployment. Revenue generated from providing fully equipped drilling units with crew and operational services.
2. Asset Sales: One-time proceeds from sale of drilling rigs, drillships, and floating production units. Recent sales include FPU Tahara (USD 2.43M), Drillship Aban ICE (USD 4.67M), and multiple jack-up rigs to ADNOC Drilling and ADES.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Aban Offshore provides contract-based offshore drilling services to oil and gas exploration and production companies using a fleet of self-elevating jack-up rigs, dynamically positioned drillships, and floating production units. Services are delivered on multi-year day-rate contracts with crew, equipment, and operational support provided, targeting national oil companies (e.g., ONGC), international oil majors (Shell, TotalEnergies, Petronas, ADNOC), and independent E&P companies globally.

Product overview

Aban Offshore is India's largest offshore drilling contractor and one of the global Top 12 offshore drilling companies. The company operates a diversified fleet of 19 offshore drilling and production units, including owned and operated jack-up rigs (ABAN II-VIII, Deep Driller series), drillships (ABAN ABRAHAM, ABAN ICE), and floating production systems (Tahara, ABAN PEARL). The owned fleet consists of jack-up rigs with water depth capabilities ranging from 200-375 feet, while the operated fleet includes additional jack-up rigs and dynamically positioned drillships. The company provides offshore drilling services to major oil and gas companies including ONGC, ADNOC, Shell, BP, and others globally.

Differentiator

Problem solved

Functional benefit

Products and services

• ABAN II Jack-Up Rig Jack-Up Self-Elevating Drilling Unit with 3-Leg Mat Support, capable of operating in water depths up to 250 feet with drilling depth of 19,836 feet. Available for charter to oil and gas operators for offshore drilling campaigns.
• ABAN III Jack-Up Rig Jack-Up Self-Elevating Drilling Unit with 3 independent leg cantilever design, operating in water depths up to 300 feet with drilling depth of 20,000 feet. Currently operating on the West Coast of India for ONGC.
• ABAN IV Jack-Up Rig Jack-Up Self-Elevating Drilling Unit with independent leg cantilever design, Baker Marine Class 300 rig for offshore E&P operators.
• ABAN VIII Jack-Up Rig IC type Jackup rig capable of operating in water depths up to 375 feet with 70 ft cantilever, accommodation for 120 persons, three 2,200 HP Mud Pumps, 7,500 psi high pressure mud system, 13-5/8" 15,000 psi BOP with maximum drilling depths up to 30,000 ft.
• Deep Driller Series Jack-Up Rigs (1-8) Self-Elevating Cantilever Jack-Up Mobile Offshore Drilling Units in the Deep Driller 1-8 fleet (some with Skid-Off Capability), operated fleet for offshore drilling services; several units have been sold to ADNOC Drilling, ADES Saudi, and Shelf Drilling between 2021 and 2022.
• ABAN Abraham Drillship Dynamically positioned Class 2 drillship for offshore drilling operations in challenging marine environments; asset divested to Last Voyage DMCC in November 2021.
• ABAN ICE Drillship Mono-hull drillship for offshore drilling; asset sold to Last Voyage DMCC, Dubai in February 2023.
• Tahara Floating Production Unit MOPU ABS A1 Floating Production System for offshore oil and gas production; asset sold to Last Voyage DMCC (SPA dated 20 November 2023, closed 15 May 2024).
• ABAN PEARL Offshore Vessel Offshore vessel with tonnage of 12,155 tonnes, operated by Aban Offshore Limited as part of its offshore fleet.
• Offshore Drilling Services (Day-Rate Contracts) Multi-year day-rate contract drilling services to oil and gas companies (ONGC, ADNOC, Shell, TotalEnergies, Petronas, Brunei Shell, Petropars, PDVSA, Pemex, Reliance, etc.) worldwide, including drilling rig charter with crew and operational services.

Quantifiable outcome

• Over 1 million hours worked without a Lost Time Incident (LTI)
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• G Ramachandran & AssociatesminorOthersPractising Company Secretaries appointed as Secretarial Auditors for audit period of five consecutive years from FY2025-26 till FY2029-30.

Scale indicators10 records

Recent moves24 records

Expansion highlights4 records

Direct peers

• Transocean Ltd. Transocean is one of the largest offshore drilling contractors globally, operating ultra-deepwater drillships and harsh-environment semisubmersibles. Comparable to Aban as a direct peer in the offshore drilling rig market serving IOCs and NOCs on multi-year day-rate contracts.
• ADNOC Drilling Company: ADNOC Drilling is the Middle East's largest national drilling company, operating a large jack-up and land-rig fleet. ADNOC Drilling has been a key buyer of Aban's rigs (Deep Driller 3 and 8), making it both a customer and a direct peer in the regional offshore drilling market.
• Valaris Limited: Valaris is a leading offshore drilling contractor with a diversified fleet of drillships, semisubmersibles, and jack-up rigs. Directly comparable to Aban in offering day-rate-based offshore drilling services to major oil companies across global geographies.
• Borr Drilling: Borr Drilling is a pure-play premium jack-up rig operator headquartered in Bermuda with a young fleet of 23+ jack-ups. Comparable to Aban's shallow-water drilling focus and customer overlap with international oil companies.
• Seadrill Limited: Seadrill operates a modern fleet of harsh-environment semisubmersibles and drillships for deepwater and ultra-deepwater customers. Direct peer of Aban in the offshore drilling services market following its own emergence from Chapter 11 restructuring.
• Shelf Drilling Ltd. Shelf Drilling is one of the largest pure-play jack-up rig contractors globally, focused on shallow-water offshore drilling in the Middle East, India, Southeast Asia, and West Africa. Direct peer of Aban - Shelf Drilling even acquired Aban's Deep Driller 7 for USD 30M in 2022.
• ADES Group (Advanced Energy Systems): ADES is a leading Middle East and Africa-focused offshore and onshore drilling contractor operating jack-up rigs. ADES acquired multiple Aban rigs (Deep Driller 1, 2, 4, 5, 6), reflecting the direct comparability of fleet offerings and customer base.
• Diamond Offshore Drilling: Diamond Offshore operates a fleet of ultra-deepwater drillships and semisubmersibles. Direct peer of Aban in the offshore drilling services space, also having emerged from its own recent restructuring process.
• Noble Corporation plc: Noble is a leading offshore drilling contractor operating a modern fleet of jack-ups and floaters across global basins. Comparable to Aban as a multi-asset offshore drilling provider serving NOCs and IOCs on day-rate contracts.

Broad incumbents

• Saipem SpA: Saipem is a global EPC and offshore drilling contractor offering integrated services including drilling, subsea construction, and offshore engineering. Comparable to Aban in offshore drilling capabilities but operates at a much broader portfolio scale; founder M.A. Abraham previously worked at Saipem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aban Offshore