2006: Sinvest Acquisition
ASPL acquires a 33.7% stake in Sinvest ASA, a Norwegian company with eight new premium jack-ups on order. ASPL subsequently completes the acquisition in stages, including a mandatory offer to all shareholders.
2005: International Expansion
In line with its global expansion strategy, AOL launches Aban Singapore Pte Ltd. (ASPL) in November as its vehicle for international operations. ASPL, in turn, sets up 3 SPVs as step down subsidiaries, each equipped with a rig or drill ship.
2005: Fleet Addition
AOL adds two jack-up rigs (Aban V and Aban VI) and a drill ship (Frontier Ice).
2000 – 2001: Hitech Acquisition
AOL acquires Hitech Drilling Services (India) Ltd., belonging to the Tata Group, boosting AOL’s fleet to four rigs. This also enables AOL to enter the FPSO business with the FPU ‘Tahara’ owned by Hitech.
1993: Fleet Addition
AOL purchases a 300-ft. jack-up rig from Mahindra & Mahindra Ltd.
1987 – First 2 jack-up rigs arrive in India from the USA.
First well drilled by Aban Offshore Ltd for ONGC. By the 1990s, many private sector companies in India chose to exit the drilling business. However, AOL preferred to increase its focus on the sector with newer rigs, acquisitions and mergers.