Asian Oilfield Services Limited, a provider of 2D and 3D seismic services, has received a letter of award (LoA) from an oil and gas company in India to acquire data of oil blocks located in Rajasthan and Gujarat, the company said. The total value of the LoA received is about Rs640 crore.
"This is an important step in our journey to realize our growth potential. We remain confident of delivering this project within the stipulated timelines and to client satisfaction," said Ashutosh Kumar, Whole-time Director & CEO at Asian Oilfield Services.
The term of the contract is two years and the company is in the process of finalising the terms and conditions for signing the contract post issuance of the LoA.
Asian Oilfield Services specialises in servicing the entire value chain from seismic data acquisition, analyzing the data, turnkey drilling, building oil and gas production facility and undertaking organization and maintenance of the production facility.
Post the current award, the company's executable order book crossed about ₹1,400 crore, providing revenue visibility for FY2021 and FY2022.