Aban Offshore
| Personal information | |
|---|---|
| Full name | Aban Offshore |
| Company type | public |
| Founded | 1986 Chennai, Tamil Nadu, India
|
Aban Offshore is an Indian multinational offshore drilling services provider headquartered in Chennai.Its services are mainly used by oil companies, especially for ONGC. The company listed on the Bombay Stock Exchange.
History
[edit]Aban Offshore Limited (formerly Aban Loyd Chiles Offshore Ltd.) is an Indian multinational offshore drilling company headquartered in Chennai. The company was established in 1986 as Aban Loyd Chiles Offshore Ltd. and initially focused on offshore drilling services for oil and gas exploration. Over time, it expanded its operations and rebranded as Aban Offshore Limited to reflect its broader international presence. The company primarily provides offshore drilling rigs and services to major oil companies, including Oil and Natural Gas Corporation (ONGC).
During the 1990s and 2000s, Aban Offshore expanded aggressively by acquiring drilling rigs and entering global markets such as Southeast Asia, the Middle East, and Africa. The company became one of India’s largest offshore drilling contractors and listed its shares on the Bombay Stock Exchange. Apart from offshore drilling, the group diversified into onshore drilling, construction, wind energy, power generation, IT-enabled services, hotels and resorts, tea plantations, and marketing businesses.
However, the company faced financial challenges in the late 2010s due to a global slowdown in oil prices and rising debt levels. In 2021, Aban Offshore reported a significant consolidated net loss, reflecting the impact of market conditions and financial stress. It also dealt with insolvency proceedings initiated by the Central Bank of India, which were later settled through a one-time agreement in 2022. Despite controversies and regulatory issues, Aban Offshore remains a recognized name in India’s offshore oil drilling sector.
Operations
[edit]Aban Offshore Limited operates as a leading offshore drilling services provider, offering jack-up rigs, drillships, and offshore support services to oil and gas exploration companies. The company primarily serves major clients such as Oil and Natural Gas Corporation (ONGC) and other international energy firms across Asia and the Middle East. Its operations include offshore and onshore drilling, rig management, and integrated oilfield services. Over the years, Aban has expanded its fleet and geographic presence, while also diversifying into sectors like wind energy, power generation, construction, and IT-enabled services to support its core oil and gas business.
Business career
[edit]Aban Offshore Limited built its business career by growing from a domestic offshore drilling contractor into one of India’s leading multinational oilfield service providers. Starting in the late 1980s, the company steadily expanded its rig fleet and secured long-term contracts with major clients such as Oil and Natural Gas Corporation, strengthening its position in India’s offshore energy sector. During the 2000s, it expanded internationally into markets across Southeast Asia, the Middle East, and Africa, and listed on the Bombay Stock Exchange to raise capital for growth. Although the company later faced financial challenges due to declining global oil prices and high debt, it continued restructuring efforts and settlements to stabilize operations and maintain its presence in the offshore drilling industry.
Ideology
[edit]Aban Offshore Limited follows a business ideology centered on growth through strategic expansion, operational efficiency, and long-term partnerships in the oil and gas sector. The company focuses on supporting India’s energy security by working closely with major public and private oil companies such as Oil and Natural Gas Corporation. Its approach emphasizes technical expertise, safety standards, regulatory compliance, and asset optimization in offshore drilling operations. Over time, Aban has also adopted diversification as a core principle, expanding into related sectors like power generation and infrastructure to reduce business risk and strengthen long-term sustainability.
Social Links
[edit]References
- ^^ Jump up to: a b Business Line "Aban Loyd to buy 3 more jack-up rigs – Gets shareholders' nod to raise $100 m". Business Line. Retrieved 2026-01-14.
- ^ Jump up to: a b "The Hindu Business line" "Aban Loyd Chiles Offshore: Buy" . Retrieved 2026-01-10.
- ^ Jump up to: a b c "Aban Offshore to seek shareholders approval to raise funds". Business Standard. Retrieved 2025-12-17.
- ^ The Economic Times "Aban seeks shareholders' nod to sell assets to slash debt". Financial Express. Retrieved 2025-12-17.
- ^ Jump up to: a b "Aban Offshore reports consolidated net loss of Rs 193.85 crore in the September 2020 quarter". "Business Standard India" . 2025-12-09. ISSN 0971-8257. Retrieved 2025-12-17.
- ^ Jump up to: a b "MSN". www.msn.com. Retrieved 2025-12-17.