Aban Offshore, formerly known as Aban Loyd Chiles Offshore Ltd., is a worldwide offshore drilling services company based in Chennai, India. Oil firms, particularly ONGC, are the primary users of its services. The Bombay Stock Exchange is where the company is listed. Additionally, the business has dabbled in building, onshore and offshore drilling, wind energy and power generating, hotels and resorts, tea plantations, IT-enabled services, and marketing.
Aban Offshore Quick Overview
| Particular | Details |
| Company Name | Aban Offshore Limited |
| Former Name | Aban Loyd Chiles Offshore Ltd. |
| Type | Public Listed Company |
| Industry | Oilfield Services / Offshore Drilling |
| Founded | 25 September 1986 |
| Founder | M.A. Abraham |
| Headquarters | Chennai, Tamil Nadu, India |
| Managing Director | Reji Abraham |
| Core Services | Offshore drilling & production services |
| Products / Assets | Offshore drilling rigs, drill ships, floating production units |
| Major Clients | Oil & gas exploration and production companies |
| Stock Exchange Listing | BSE & NSE |
| BSE Code | 523204 |
| NSE Symbol | ABAN |
| Employee Strength | Approx. 1,000-5,000 |
| Official Website | abanoffshore.com |
Net Worth and Market Cap
The company has shown a good revenue growth of 15.25% for the Past 3 years. Aban Offshore has a market capitalisation of Rs 129.98 Cr., calculated based on its latest share price.
Corporate Leadership
The late Mr. M. A. Abraham founded Aban Constructions, a modest engineering firm in Chennai, in 1986, which gave rise to the ABAN Group. The company was founded on September 25, 1986, by M.A. Abraham. The company’s chairman, Mr. P. Venkateswaran, is a renowned expert with more than 40 years of experience in the oil and gas industry. The company’s promoter is Mr. Reji Abraham, Managing Director.
Overview of Services
The Group made enormous progress in more recent areas of business, such as the construction of cross-country pipelines and high-pressure systems for the petrochemical, fertilizer, and refinery industries. Aban inevitably entered the powerful fields of power generating and drilling.
The biggest private participant in India’s offshore drilling market is ABAN. It is a member of the Aban Group and was marketed by Aban Constructions Private Limited in association with the Gulf of Mexico offshore drilling firm Chiles Offshore Inc., USA. The company offers offshore drilling and production services for oil and gas exploration, development, and production. It owns and runs drill ships, a floating production complex called “Tahara,” and seven offshore drilling rigs.
Scale of Operations
With its headquarters located in Mumbai, Maharashtra, India, Abban Offshore is a prominent supplier of offshore support services to the oil and gas sector. With a significant presence along the western coast, particularly the Mumbai High region, the corporation mostly operates in Indian offshore waters.
Anchor handling tug supply vessels, platform supply vessels, and multipurpose support vessels are all part of the diverse fleet of offshore support vessels that Abban Offshore oversees. The company’s position in India’s offshore energy services industry has been strengthened by the steady expansion of its fleet and operational capabilities over time.
