Asian Oilfield Services wins Rs 640-cr seismic contract

New Delhi, Dec 16 () Asian Oilfield Services Ltd on Monday said it has won a Rs 640 crore contract to do seismic survey on oil blocks in Rajasthan and Gujarat.

In a statement, the company said it has "received a Letter of Award (LOA) for acquisition of 2D and 3D seismic data of oil blocks located in Rajasthan and Gujarat State from a reputed oil and gas company in India. The total value of the LOA received is about Rs 640 crore (inclusive of GST)".

It did not identify the company that has awarded the seismic contract.

The term of LOA is two years.

Asian Oilfield Services specializes in servicing the entire value chain from seismic data acquisition, analysing the data, turnkey drilling, building oil and gas production facility and undertaking O&M (operations and maintenance) of production facility.

Commenting on the same, Ashutosh Kumar, Whole-time Director & CEO said, "The receipt of this LOA for undertaking 2D and 3D seismic survey from an esteemed oil and gas company is an important step in our journey to realize our growth potential and unlock the inherent strength of our specialized skills and technical competencies in a niche area of providing all oilfield related services to exploration & production (E&P) companies".

"We remain confident of delivering this project within the stipulated timelines and to client satisfaction," he said. ANZ BAL BAL