Aban Offshore Limited

As of February 18, 2022, the company is listed on Iowa's Public Employee's Retirement System (IPERS) Iran Prohibited Companies List.

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As of January 31, 2022, Iowa's Municipal Fire and Police Retirment System lists Aban Offshore Limited on its Iran Scrutinized Companies List.

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As of May 17, 2021, Iowa's Public Employee's Retirement System lists Aban Offshore Ltd on its Iran Scrutinized Companies List.

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As of December 2020, Rhode Island continues to list Aban Offshore Ltd as an Iran scrutinized company for active involvement of at least $20-50 million in Iran's energy sector.

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As of June 2020, Aban Offshore Limited is listed on Iowa's Iran Divestment Report.

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As of August 15, 2019, Iowa's Municipal Fire & Police Retirement System lists Aban Offshore Ltd on its Iran Scrutinized Companies List.

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As of July 31, 2019, Iowa's Municipal Fire & Police Retirement System list Aban Offshore Ltd on its Iran Scrutinized Companies List.

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As of May 15, 2019, Iowa Public Employee's Retirement System lists Aban Offshore Ltd. on its Iran Prohibited Companies List.

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"Chennai-based Aban Offshore has struck a deal to buy 100% of blocks 15/13a and 15/13b for £57 million. Iran’s national oil company is the current owner of the two blocks, according to the Oil and Gas Authority (OGA). Aban’s stakes will be held by Caldera Petroleum, a London-registered company which was incorporated just last week. Caldera is a wholly-owned subsidiary of Aban Singapore, whose parent company is Aban Offshore. Reji Abraham, who was on the 2009 Forbes list of the world’s wealthiest people, is Aban Offshore’s managing director. The firm’s deal with Iranian Oil Company (UK) is subject to OGA consent, but Aban has already found a buyer for 50% of the two assets." (Energy Voice, "Indian's Aban offshore in quick-fire sale of North Sea blocks," 10/10/2018).

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As of September 25, 2018, Iowa's report to the Treasurer of State lists Aban Offshore Limited on its list of Iran Scrutinized Companies. 

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As of June 30, 2018, Iowa State Board of Regents lists Aban Offshore Limited on its list of Iran Scrutinized Companies. 

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As of February 1, 2018, Ohio lists Aban Offshore Limited on its Iran Scrutinized Companies list. 

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"Aban Offshore Senior Vice-President S Srinivasan said that the company had around $288 million in receivables from Iran as on March 2016, which subsequently came down to $252 million to March 2017.

"We have reduced the receivables (from Iran) by around $36 million plus and we have also collected whatever has been billed," said Srinivasan, adding, "The re-election of the President is definitely positive, so I think the reformist agenda will continue."" (Business Standard, "Aban Offshore's receivables from Iran dip $46 mn after lifting of sanctions," 6/5/2017).

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On March 6, 2017, Colorado removed Aban Offshore Limited from PERA's Iran List. 

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In 2017, Rhode Island listed Aban Offshore Ltd as an Iran scrutinized company. 

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As of December 20, 2017, South Carolina lists Aban Offshore Ltd as an Iran scrutinized company. 

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As of July 7, 2017, Tennessee lists Aban Offshore Ltd as an Iran scrutinized company. 

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As of June 30, 2017, State of Iowa lists Aban Offshore Ltd as an Iran scrutinized company. 

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As of March 1, 2017, New Jersey identified Aban Offshore Litd., as having equity ties to the government of Iran or its instrumentalities and are engaged in business operations with entities in the defense sector or nuclear sector of Iran, and are therefore ineligible for investment by pension or annuity funds. 

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On January 16, 2017, OFAC announced Aban has agreed to pay $17,500 for violating US sanctions on Iran in 2008 when its Singapore subsidiary ordered oil rig supplies from the US with the intention of re-exporting them from the UAE to a rig in Iranian territorial waters.

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According to Rigzone.com, Aban Offshore Limited is currently operating four drillships in in Iranian waters.

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In 2016 and 2017 Tennessee used the South Carolina list of "Entities Ineligible to Contract with the State of South Carolina or any Political Subdivision of the State per the Iran Divestment Act of 2014, S.C. Code Ann." as its list of persons it determines engage in investment activities in Iran. Aban Offshore was included on this list in 2016. "Inclusion on this list would make a person ineligible to contract with the state of Tennessee, if a person ceases its engagement in investment activities in Iran, it may be removed from the list."

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"Aban Offshore Ltd. (ABAN), Asia’s third-most-indebted oil rig provider, will be able to obtain cheaper U.S. and European financing following the easing of some sanctions on Iran, the Indian company’s biggest market. The company will be able to cut its cost of debt by as much as 2.5 percentage points as the easing of sanctions allows Aban to borrow from European and U.S. banks, a route previously closed, according three analysts surveyed by Bloomberg News. The driller had debt equivalent to 129.9 billion rupees ($2.1 billion) as of Sept. 30, according to data compiled by Bloomberg, eight times as much its market value…'Aban now has the door open to access liberal interest rates and take cheaper debt for refinancing,' Kenin Jain, head of equity sales at Emkay Global Financial Services Ltd., said by phone from Mumbai on Nov. 27. 'This is a huge respite. It will boost earnings and improve cash flows. The stock is already reacting to this.' Emkay has an 'accumulate' rating on the stock…Aban, based in the south Indian city of Chennai, has $398 million of debt due for repayment through 2015, according to data compiled by Bloomberg. Its weighted average cost of debt is 7.1 percent and that for debt and equity is 7.9 percent, according to data compiled by Bloomberg.

Its short-term debt is rated A4, the second-lowest grade, by Mumbai-based Credit Analysis & Research Ltd. Standard & Poor’s and Moody’s Investors Service doesn’t rate the company. Aban has surged 26 percent this week, making it the second-best performer in the S&P BSE 500 Index. The shares rose as much as 4.1 percent to 385.45 rupees and traded at 379 rupees as of 11:32 a.m. in Mumbai. This year, Aban has gained 0.2 percent, compared with a 7 percent gain in the S&P BSE Sensex. Eight of Aban’s 18 rigs and drillships are operating in the Gulf, including four in Iranian waters, according to Rigzone.com, which collects data on rig locations. Five rigs are in South Asia, two each in Mexico and Southeast Asia and one in Brazil, according to the company’s website. Aban probably would have struggled to renew contracts for some of the rigs operating off of Iran next year without the easing of sanctions, Jain said. The renewals will help the driller maintain cash flows and revenue, he said. At least three rigs are in the Middle East region, Aban says on its website, without specifying where. It also doesn’t give locations for eight of the rigs. C.P. Gopalkrishnan, deputy managing director of Aban, declined to comment on the company’s debt, rigs and the impact of the U.S.-Iran deal at his office on Nov. 26. 'The risk factor for Iran has reduced significantly with the Iran-U.S. deal as revenue over the next couple of years is now ensured,' said Mayur Matani, a Mumbai-based analyst with ICICIdirect.com, who has a 'hold' rating on the stock. 'The company’s valuation would rise and there are possibly more gains for the stock in the near term.'" (Bloomberg, "Iran Nuclear Deal Offers Aban Help to Cut Costs: Corporate India," 11/29/13)