Aban Singapore Pte. Ltd. (ASPL) was formed as a wholly owned subsidiary of Aban Offshore Limited to offer drilling services to large global oil and gas operators.

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Aban Singapore Pte. Ltd., was incorporated on 18th November 2005 under the Companies Act of Singapore as a private limited company. In our first nine months of operations, we acquired two operational rigs and placed an order for a further rig.

In March 2007, we acquired Sinvest ASA, which at that time owned three premium operational jack-up rigs and had five premium jack-up rigs under construction or on order, as well as an additional jack-up rig and a deep water drill ship under bareboat charter.

Since its inception, Aban Singapore Pte. Ltd. has been forging ahead in fulfilling its goal of providing drilling services to global players. The table below encapsulates some of our key developments.

Our mission, at ASPL, is to become global leaders in providing offshore drilling services while maintaining the status of the largest operator in Asia. We would like to complement this objective with continuous enhancements in customer satisfaction, stakeholder value and employee opportunity.

We are aware that this is possible only with the support of experienced and qualified personnel, our young fleet and constantly upgrading the technology that we offer to our customers.

Aban Singapore Pte. Ltd. is governed by a philosophy that believes in setting pioneering standards in the services provided, the technology adopted and the welfare of our employees. Our primary areas of focus are

Sinvest, a company incorporated in Norway and formerly listed on the Oslo Stock Exchange, was in the business of making long-term financial and strategic investments in international oil, gas and offshore services and asset companies. In March 2007, we completed the acquisition of all of the ordinary shares of Sinvest. We acquired all of the ordinary shares of Sinvest in the market between June 2006 to March 2007.

The principal rationale for our acquisition of Sinvest was to accelerate our expansion plans in furtherance of our strategic goals. With this acquisition, we believe that we have achieved the scale necessary to compete globally in the offshore drilling rig market. In addition, we believe that we have acquired 10 rigs at an opportune time in the cycle of our business.

Our fleet comprises 11 jack-up rigs and two drill ships. Seven jack-up rigs are operational and on hire while the remaining four are still under construction and scheduled to be available for hire by the first quarter of 2009. Our drill ships are operational and on hire.

The table below lists our rigs, their specifications and relevant details.

Aban VII, Aban VIII and Aban Abraham are managed and operated by our experienced management team and operational staff. Deep Venture is managed and operated by Petrolia Drilling ASA, with administrative support from Sinvest ASA.

The remainder of our rigs are managed and operated by Premium Drilling (Cayman) Ltd., a subsidiary of Premium Drilling AS.

Aban Singapore Pte. Ltd. provides state-of-the-art drilling services for a diverse and international clientele in various locations. Our clients figure among the established exploration and production companies in the oil and gas industry with multinationals such as Shell, ExxonMobil and Petronas group companies. Other notable clients include