Country’s largest private sector offshore drilling contractor, Aban Offshore has made announcement that a subsidiary of the company has entered into a pact for the deployment of the semi-submersible rig, Aban Pearl offshore, in Latin America, for duration of 5 year.

According to the sources, the predictable revenues from the deployment, which is expected to start in third Quarter of the financial year 2008-09, is approximately Rs 31.50 billion.

The major activity of the conglomerate is to offer oil field services for offshore exploration and production of hydrocarbons to the oil industry in India and overseas.

Shares of the company gained Rs 33.6, or 1.46%, to trade at Rs 2,342. The total volume of shares traded was 123,834 at the BSE.