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 ...

Aban Offshore has selected Fairmount Marine to transport the Aban Pearl to South America.

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. Just hours before the ...

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.

Early Thursday, he announced that an offshore gas drilling platform called Aban Pearl had sunk “a few moments ago” in the Caribbean and that all 95 workers on the rig had been rescued.

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.

Aban had a net debt of about $3 billion as on March 31. Shares in the firm have shed about 19 percent of their value since it lost the Aban Pearl rig on May 13.

The Aban pearl platform sank off Venezuela on Thursday, and 95 workers were rescued safely and the sinking poses no threat to the environment, according to Venezuela's Oil Minister Rafael Ramirez.AP ...

An offshore natural gas platform sunk off Venezuela on Thursday, and 95 workers were rescued safely, the government said. All of the workers on the Aban Pearl platform off eastern Sucre state were ...

Oil Minister Rafael Ramirez told state TV that workers disconnected a tube leading from the gas fields to the Aban Pearl platform, preventing any damage to the ocean or marine life. He said alarms ...

In this undated photo an oil worker points a water cannon at the Aban Pearl platform, off eastern Sucre state, Venezuela. The Aban pearl platform sank off Venezuela on Thursday.