- The Company was promoted by M.A. Abraham managing partner of Arab Constructions Chennai Asian Techs Ltd. Cochin in collaboration with Indian Offshore Inc. U.S.A. a professional drilling company of U.S.A. The Company secured two offshore drilling contracts consequent to Government of India policy to indigenise oil sector and to encourage Indian joint venture companies.

- The Company's object is providing and operating ships vessels rigs structures equipment and personnel required for on-shore and off-shore drilling oil field services etc.

- The Company concluded a collaboration agreement with M/s. India Offshore Inc. USA for both technical know-how and equity participation.

1987 - The imported rigs named as Aban-I and Aban-II were employed at Godavari basin and Mumbai High respectively. The rigs struck oil at few places in both the fields. The company trained all categories of its national crew on a continuous basis which brought down the expatriate manpower cost by about 50%.

1988 - The Company received a letter of intent from ONGC for charter hire of a drillship (Five Star) for two years with an option to extend the contract for a further period of two years. Necessary steps were being taken to obtain approvals from the Government for the said drillship.

- 9 38 491 shares subscribed for by promoters directors etc. 28 61 509 No. of equity shares then issued at par of which the following shares were reserved and allotted:

- (i) 2 12 909 shares to promoters directors etc.

- (ii) 15 20 000 shares to India Offshore Inc. U.S.A. Shares reserved for preferential allotment were:

- (i) 1 70 000 shares to NRI on repatriation basis (all were taken up);

- (ii) 1 90 000 shares to employees etc. (only 18 900 shares taken up). The remaining 7 68 600 shares along with the unsubscribed portion of 1 71 100 shares from employees quota were offered to the public in May. Additional 1 69 200 shares allotted to retain over-subscription (1 43 700 shares to the public and 25 500 shares to NRIs).

1989 - The Company bagged a manning and management contract against a global tender from ONGC to man and manage 300 feet cantilever jack-up-rig `Sagar Uday' in Mumbai High.

- Due to non receipt of permission from the Government for acquisition of the drillship the letter of intent was not renewed.

1990 - The Company continues to bid for more onshore/offshore contracts in order to expand its operations and also to diversify into oil related areas.

1991 - The Company received letter of intent from ONGC for charter hire contracts of the two rigs Aban I and Aban II for primary period of 2 years and extendable for a further period of 2 years under mutually agreed terms.

1992 - The Company entered into a fresh charter hire contracts with ONGC for ABAN-I and ABAN-II for a primary period of 2 years with effect from 1st June and 25th April respectively with a provision for extension for further periods.

- The Rig Lead Ansterdam was added to the fleet during March.

- The Company signed a Memorandum of Agreement for acquiring two more 300 ft. jack-up rigs viz. `Chicken Itza' and `Uxmal' from the present owners represented by ECGD a Government of UK organization.

- During November the Company offered 19 84 600 No. of equity shares of Rs.10 each at a prem. of Rs.60 per share on rights basis in the prop. 1:2 (all were taken up). Additional 2 91 790 shares were allotted to retain oversubscription.

- Another 99 230 shares of Rs.10 each at a prem. of Rs.60 per share were offered to the employees of the Company on an equitable basis. (Only 32 270 shares taken up) Unsubscribed portion was allowed to lapse.

- 23 08 660 rights equity shares issued.

1993 - Rigs Aban-I Aban-II and I'le D Amsterdam continued to be on charter hire contracts with ONGC. The Company disposed two rigs viz. Chichen Itza and Uxmal.

- The Company undertook refining for production of petroleum products. With this in view it proposed to set up a refinery with a capacity of 3 million TPA at Tuticorin. A modern refinery was located at Calgary Canada which was to be purchased from Shell Canada.

1994 - The Company undertook to set up a 3 million TPA capacity petroleum refinery.

- The Company diversified its activities to include harnessing of wind energy. The Company entered into a tie-up with Kenetech Windpower Inc. USA.

- It has also set up 2 MW wind power plant in Muppandal and Kayathar in Tamil Nadu.

- 200 No. of equity shares kept in abeyance of rights issue of Jan. 1992 was issued.

1995 - The setting up of a 3 million TPA capacity petroleum refinery was kept in abeyance due to the severe liquidity crunch.

- The growth and performance of the wind energy division did not show the expected increase due to severe liquidity crunch in financial and corporate sector.

- The Company has commissioned 62 wind turbines during the year.

- Another 700 shares issued.

1996 - Company has received a new charter hire contract for ABAN-I from ONGC for deployment in the West Coast of India for a period of 3 years. ABAN-II continues to perform satisfactorily while 11c D'Amsterdam the company has received letter of intent from ONGC at substantially increased charter hire rates.

- Company is working as a proposal for setting up a 3 million tonne Refinery and Power Plant have been re-assessed by the Company.

1997 - The Company has entered into new contract for Rig I'le D' Amsterdam with increased rates for a period of two years.

- The Company was selected by Tamil Nadu Government for setting up a 103 MW power plant on Build Own and Operate basis near Ennore. The Company assigned this project to M/s. Aban Power Company Ltd. a company separately formed for power generation.

2001 - Aban Loyd Chiles Offshore Ltd. has entered into a definitive agreement with Tata Industries Ltd. to acquire 22.5 per cent controlling stake in Hitech Drilling Services India Ltd.

2002

-Mr A Abraham steps down from the Chairmanship of the company.

-High court approves for the scheme of amalgamation of Hitech Drilling Services India Ltd with the company.

-Ties up with Qatar Shipping to bid for Shipping Corporation of India's disinvestment programme.

-Qualifies to bid for Shipping Corporation of India Ltd.

-Mr Reiji Abraham and Mr Renny Abraham acquired the shares of the company.

-Opts out of Shipping Corporation of India bid process

2003

-Board proposed to delist the company's shares from the Delhi Stock Exchange.

-Company's offshore has been registered for ISO 9001:2000 by KPMG quality Register.

-Director Mr Renny Abraham expires on Oct 5th.

-Mr Frank A Wojtek resigns as the Director on the board of the company.

-Aban Loyd Chiles Offshore Ltd. has informed that Mr. K. Bharathan has been appointed as Additional Director effective December 26 2003.

2004

-Aban Loyd Chiles Offshore MD expires

2005