Aban Offshore, India's largest private sector offshore drilling contractor, has announced that the company has received a Letter of Intent (LoI) for the deployment of the newly built jack-up rig Aban VIII in the Middle East.

The estimated revenue from the contract may cross $300 million. The contract for the programme covers 18 wells, which is extendable to another 4 wells, is expected to run for roughly four years.

The deployment is to commence following delivery of the rig, which is expected in the second quarter of 2008.