The leading offshore drilling firm expects to launch the work in the last three months of 2010.
"A contract has been signed with Petrobras, Brazil, for the deployment of the drillship Aban Abraham offshore Brazil for a firm period of five years.
"The estimated revenues from the deployment is about USD 494 million (about Rs 2,285 crore) plus a potential 3.85 per cent performance bonus, the deployment is likely to commence during the fourth quarter of calender year 2010," the company said in a filing to Bombay Stock Exchange.
Shares of Aban Offshore were quoting at Rs 902.70 on BSE in afternoon trade, down by 0.93 per cent over the previous close.