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Asian Energy Services makes new oil discovery at Mevad Field in Gujarat

Asian Energy Services Ltd. | Oil Exploration | Oil & Gas | BSE: 530355 | NSE: ASIANENE

01 Feb 2026 Evaluate

Asian Energy Services has made a new oil discovery at its onshore Mevad field in Gujarat, following the drilling and testing of a new well with expected peak production of around 125-130 barrels of oil per day (bopd). The well NM-01 was drilled to a total depth of 1,650 metres, encountering three hydrocarbon-bearing sand intervals -- Mandhali, Sobhasan, and Kalol. These zones are being evaluated sequentially. The well is currently producing around 100 bopd in the testing phase from Sobhasan sand, with data indicating potential production rates of 125-130 bopd.

In addition, the Kalol-III reservoir has shown hydrocarbon indications based on logs and cuttings, and testing of this interval will be undertaken at an appropriate stage. Field partners plan to drill additional wells to evaluate the extent of the oil pool and assess the reservoir’s development potential. Under the Revenue Sharing Contract, Asian Energy holds a 50% participating interest in the project, Oilmax Energy (Oilmax) holds a 10% participating interest, with the remaining interest held by other partners.

The project is expected to add incremental cash flow and underscores the company’s focus on disciplined, low-cost resource development. For Asian Energy, the discovery provides incremental domestic production exposure with pricing linked to international benchmarks. The discovery coincides with Asian Energy’s ongoing merger process with Oilmax and is expected to enhance operational visibility during the consolidation period by adding incremental production capacity.

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.

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
View more..

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Asian Energy Services makes new oil discovery at Mevad Field in Gujarat

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