Aban Offshore (BOM:523204), India’s largest offshore drilling and oil field services provider, suffered a major setback on Thursday, when its gas platform Pearl sunk off the coast of Venezuela.

The Aban Pearl platform was drilling in the Mariscal Sucre offshore natural gas project, off the coast of Venezuela's Sucre state. It belongs to an Indian company, Aban Offshore Ltd, but was being ...

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts. The Associated Press reports that a natural-gas rig off Venezuela ...

The Aban pearl platform sank off Venezuela on Thursday, and 95 workers were rescued safely and the sinking poses no threat to the environment. Updated at 1:56 p.m. CARACAS, ...

The sinking of the rig, called Aban Pearl, is a setback to Venezuela’s efforts to upgrade its energy industry, a push that has included outreach to foreign oil companies.

All of the workers on the Aban Pearl platform off eastern Sucre state were safely evacuated, and the sinking poses no threat to the environment, Oil Minister Rafael Ramirez told state television.

A natural-gas platform sank off Venezuela on Thursday after workers escaped in lifeboats and the last few leaped into the Caribbean Sea. The oil minister said there was no threat to the ...

Aban Offshore has selected Fairmount Marine to transport the Aban Pearl to South America. India's largest offshore drilling contractor in the private sector, ABAN Offshore Ltd, selected Fairmount ...

Venezuelan President Hugo Chavez said that a natural-gas platform sank off the country’s eastern coast because of a faulty floatation system. The incident comes three weeks after a fatal rig ...

The Venezuelan governnment says an offshore natural gas platform has sunk into the sea, and 95 workers have been safely rescued.