The company expects a revenue of Rs 69.75 crore from the contract which has the estimated duration of 150 days, Aban Offshore said in a filing to the Bombay Stock Exchange.
The work will be done for "5 firm well plus 2 optional well programme."
The deployment of rig in the Ravva block, which is operated by Cairn Energy India in joint venture with ONGC, Videocon and Ravva Oil, is likely to start during the fourth quarter of calendar year 2010, the filing added.
Shares of Aban Offshore were trading at Rs 813.45 on BSE, up 4.02 per cent from previous close.