Mumbai: Aban Offshore has confirmed that it has contracted two of three idle rigs at $120,000 per day, and they will be deployed by December first week.
A source close to the development said the management will not sell any of the rigs -- as reported in media -- saying it is still aggressively marketing the third one.
"The rigs will not be deployed in the Middle-East ... more like in North America," the source said.
The rigs (Aban VII, Deep Driller 1 and Deep Driller 6) are a part of the company`s seven rigs that were lying idle for the past few months. Aban was able to deploy four of these on long-term contracts four months ago.
Crude prices have doubled in the last six months from $40 per barrel to nearly $80, making it lucrative for oil exploration companies to rent rigs.
Kunal Lakhan, analyst with broking house K R Choksey Shares and Securities had earlier told DNA Money at $70-75 per barrel, it becomes affordable for oil companies to get into exploration and production activities.
| NIFTY 
