Aban Singapore Pte Ltd., a subsidiary of Aban Offshore Ltd., Chennai, India, (Bombay: 523204) plans to acquire the remaining shares of Sinvest ASA, Kristiansand, Norway, (Oslo: SIN) for approximately US$800 million. Aban holds 50.01% interest in Sinvest, a jack-up drilling company that owns three premium jack-up rigs and five rigs under construction in Singapore. Two work for Hardy Oil and Shell Brunei while the third has secured work for Shell Malaysia. Sinvest owns a 50% stake in Norway-based Venture Drilling AS, which owns a drillship on long-term contract to ExxonMobil in West Africa, and 100% of Norway-based Beta Drilling AS, which provides jack-up drilling.

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