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ABAN LOYD CHILES OFFSHORE LIMITED Aban Loyd Chiles Offshore Limited, an Indo-US joint venture, was set up in 1986 with a view to provide offshore oil field services for offshore exploration and production of hydro-carbons to the Oil Industry. It was one of the first joint ventures approved by the Indian Government to operate offshore rigs. Its jack-up rigs are capable of drilling up to 6000 meter in water of 20 feet to 300 feet depth and floating production and storage facilities. -------------------------------------------------------------------------------- New Venture: Aban Loyd Chiles Offshore Ltd., & Frontier Drilling ASA of Norway have established a joint venture company in the name of Frontier Aban Drilling (India) Ltd., for deep-sea offshore oil exploration. A contract has been signed with Oil & Natural Gas Commission for exploration in Bombay High for a period of 2 years. A drill ship in the name of Frontier Ice of Frontier Drilling ASA has been deployed for offshore drilling. Another drill ship in the name of Frontier Discoverer is also operating off the coast of Pondicherry. -------------------------------------------------------------------------------- One of the proudest moments for Aban Loyd was when they successfully completed a manning and management contract with ONGC s 300 feet cantilever jack-up rig - 'Sagar Uday' . Aban II, Aban III and Hitdrill I - the offshore drilling rigs controlled by Aban Loyd are fitted with state-of-the-art top drive systems to maintain a competitive edge in offshore drilling by increasing the productivity and reducing the cost per well . In 2001, the company acquired controlling stakes in Hitech Drilling Services Limited from Tatas, a leading industrial house in India, which added one more rig and a floating production facility to the fleet of Aban Loyd. With these Aban Loyd becomes the largest offshore services provider in India. With oil exploration becoming an increasingly high priority area in India, Aban Loyd Chiles Offshore Limited is poised to play a leading role in the future. Was set up in 1986 with a view to provide offshore oil field services for offshore exploration and production of hydro-carbons to the Oil Industry. Aban Loyd Chiles Offshore Ltd