Aban Offshore’ Singapore Subsidiary Acquired Norway-Based Sinvest

Aban Offshore’ Singapore subsidiary after acquired Norway-based Sinvest last year,  enable it to have 20 offshore assets by the year 2010 which is the biggest beneficiary of the current deficit in its rigs as can unlock value in the future and will be the key catalyst, reported on August 21, 2007.
Besides having the highest operating margin and return on equity among its global peers, analysts believe that Aban Offshore is expected to record the strongest growth in earnings between the year 2007 and the year 2010.
Aban Offshore is the largest private Indian rig operator even after its stock price in the last one year is more than doubling, analysts are still confident on the company to post high revenue growth for next two years and expecting its stock price to touch Rs 3,400 levels in a year
Five of the company’s assets come up for renewal in FY08, which will be priced at two-three times its existing average contract rate of $43,500 and the addition of nine new assets that include seven assets from Norway-based Sinvest coming up over the next 21 months.

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