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Shiv-Vani Oil receives approval for restructuring under CDR mechanism

07 Mar 2014 Evaluate

Shiv-Vani Oil & Gas Exploration Services has received an approval whereby the CDR Empowered Group (EG) has conveyed their approval (LOA) for restructuring under CDR mechanism. The company is in the process of finalizing Master Restructuring Agreement (MRA) in consultation with the CDR lenders.

Shiv-Vani Oil & Gas Exploration Services, a world leader in upstream supply and support, has been the preferred exploration partner of Oil and Gas majors in India and the Middle East since 1989. Headquartered in New Delhi, India, the company offers a wide spectrum of services in the field of oil and natural gas exploration and production. Shiv-Vani conducts two dimensional (2D) and three dimensional (3D) land seismic and transit zone surveys.

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