Oilfield services firm Aban Offshore has informed that it has entered into an agreement with Husky Oil for leasing its jack up rig 'Deep Driller 5' offshore for drilling operation in China. .

According to official sources, the three-month contract would yield estimated revenue of $38.70 million (Rs 178 crore), for Aban Offshore, Subject to the fulfillment of conditions.

The deployment is to commence in direct continuation of its present contract, which is anticipated in the first quarter of 2009.

The government has ruled out any possibility of revision of oil and gas prices. Petroleum Secretary, R. S. Pandey said that the government is not working on any proposal to increase the prices of gas produced by Oil and Natural Gas Corporation and Oil India. 

However, he did not disclose about the note in which the union cabinet had decided, last year, to revise oil and gas prices on a nomination basis to Rs. 3.71 from the current Rs. 3.2 a cubic meter. 

Vienna - The price fo

Czech energy firm CEZ and Electrabel, a unit of French-based GDF Suez, won contracts to build two coal-fired power plants in Romania, the government said Wednesday.

Each contract is worth up to 400 million euros (590 million dollars), Economy Minister Varujan Vosganian said.

The 400-megawatt units in eastern Romania will be built at two existing power plants in cooperation with state-owned utility Termoelectrica SA.

Electrabel was contracted to build a unit at Borzesti and CEZ was tapped for one at Galati, also the site of Romania's biggest steelworks.

Paris - French energy giant Electricite de France (EDF) is to purchase British Energy Group after both boards agreed on a price, EDF said Wednesday in a statement.

According to the agreed deal, EDF will pay 12.5 billion pounds (15.6 billion euros, or 22.9 billion dollars) for the group, which owns eight of Britain's 10 nuclear power reactors.

The offer, equal to 774 pence per share of British Energy, represents a premium of more than 35 per cent over its closing middle price on March 14, when talks began between the two companies, and of nearly 7 per cent over Tuesday's closing middle price.

Noida-based Roto Pumps Ltd has secured an order worth Rs 3.6 crore from Larsen & Toubro Ltd, for Rajasthan Northern Area Development Project of Cairn Energy India Pvt. Ltd.

The company claims that the latest order is the single largest value order in the history of the Roto Pumps, which it has picked amidst stiff International competition.

According to the company, Larsen & Toubro Ltd is the contractor for this project and the project is certified for deemed export benefits.