Asian Energy Services (AESL) has received shareholders’ approval to proceed with the acquisition of 50% Participating Interest (PI) in Indrora, an Oil & Gas field situated in Gandhinagar, Gujarat from Oilmax Energy (OEPL). AESL has initiated the process of obtaining all the requisite permissions and approvals from the Government of India to complete the PI acquisition. Oilmax Energy is the parent company of Asian Energy with a 61.25% equity holding in Asian Energy.
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.
AESL, with this acquisition, has marked its entry into the upstream Oil and Gas Production business thereby expanding its gambit of capabilities across the entire upstream value chain. The addition of the upstream oil & gas production vertical will help AESL improve its cash flow visibility and further diversify its cash flows from its existing seismic, oilfield O&M, and infrastructure services verticals.
Asian Energy Services (formerly Asian Oilfield Services) provides range of services to reputed national and multinational companies. The company banks on the rich experience of well qualified professionals for providing seismic data acquisition, processing and Interpretation services.
| Company Name | CMP |
|---|---|
| ONGC | 282.85 |
| Oil India | 627.70 |
| Jindal Drilling&Inds | 790.50 |
| Hind Oil Exploration | 206.85 |
| Deep Industries | 289.50 |
| View more.. | |
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