Asian Energy Secures LOA from Vedanta Limited for Gujarat Seismic Data Acquisition

• The value of the LOA is INR 40.91 crores 
  
• The Duration of the contract is approximately 7 months 
  

Mumbai, August 16, 2023: Asian Energy Services Ltd (AESL) receives a Letter of Award (LOA) worth INR 40.91 crores for Seismic Data Acquisition services from Vedanta Limited. 

Commenting on the development, Mr. Kapil Garg, Managing Director, Asian Energy Limited., said, “This order from Vedanta Limited is the reflection of our leadership position in the Seismic services field and our strong relationship with clients. This is the third order we have secured recently after orders from ONGC Ltd for Gujarat and GAIL (India) Ltd for Rajasthan in the seismic services field. The work under this order will be completed in the current financial year.   

Our order book for seismic services stands at INR 170 Crores now and our overall order book stands at approximately INR 950 Crores. We are focused and confident to execute these orders in a timely manner.” 

About Asian Energy Services Limited: (BSE: 530355 | NSE: ASIANENE): 

Asian Energy Services Limited (AESL) offers end-to-end services which extend across the entire upstream value chain. AESL’s service offerings including 2D and 3D Seismic Geophysical Data Acquisition, Integrated Supply and Installation of Coal Handling Plants and Rapid Loading Systems, as well as the Supply, Commissioning, and integrated Operations and Maintenance (O&M) of Onshore and Offshore Oil and Gas Production Facilities. Since its acquisition by OEPL, AESL has diversified its business verticals to capture more value across the energy and upstream oil and gas value chains, for long term value creation for its investors and shareholders. 

About Oilmax Energy Pvt. Ltd.: 

Oilmax Energy Pvt. Ltd. (OEPL), a privately owned oil & gas company, incorporated in 2008, is a key player in India’s Oil and Gas Upstream segment. OEPL currently has multiple assets in India (at different stages of development) with three blocks in Assam (namely Duarmara, Amguri, and Tiphuk) and one block in Gujarat (namely Indrora). Oilmax Energy’s vision is to develop a reserve base of more than 100 MMBOE and an average daily production of 10,000 BOEPD. OEPL is firmly committed to aid in India’s energy security as well as transition to low carbon future with a focus on long term gas production; create skilled jobs and help in the development of local communities where they operate as well as bring in and enable world class technologies to the domestic sector. Oilmax maintains a sharp and unwavering focus on HSSE as per and above local and global industry standards.