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Asian Oilfield Services’ arm inks O&M contract for offshore production unit at Nigeria

23 Feb 2017 Evaluate

Asian Oilfield Services’ wholly owned subsidiary, Asian Oilfield & Energy Services DMCC, Dubai has signed a contract for providing Operations and Maintenance Services (O&M) for an offshore production unit operating at EBOK field offshore Nigeria. The total value of contract is about $95 million for a total period of 5 years (inclusive of client options). Earlier, on December 27, 2016, the Company has announced about receipt of a binding Letter of Intent (LOI) for contract of approximately $57 million for providing O&M services for 3 years. The above contract of $95 million for a total period of 5 years (inclusive of client options) is for the same LOI.

Furthermore, Asian Oilfield & Energy Services DMCC has also entered into an agreement to acquire 99.99% shareholding of Ivorene Oil Services Nigeria (a company registered under Nigeria) to provide local support for this O&M contract.

Asian Energy Service Share Price

312.75 -2.50 (-0.79%)
21-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
ONGC 283.05
Oil India 465.35
Jindal Drilling&Inds 535.35
Deep Industries 473.85
Asian Energy Service 312.75
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