Asian Energy Services on Monday announced that it has received a letter of award (LOA) from ONGC for 3D Seismic Data Acquisition services. “Asian Energy Services Limited (AESL) has received LOA from ONGC for 3D Seismic Data Acquisition services in Gujarat. The value of LOA is Rs 78.24 crore,” the company said in a regulatory filing. The contract duration, it said, is 11 months.
“Following a period of muted activity on seismic contract award, this LOA signals the commencement of inflow of seismic services contracts. The majority work under this LOA will be completed in the current financial year and will boost company’s revenue from Seismic services which was subdued in the previous financial year,” said Kapil Garg, Managing Director, Asian Energy Services Ltd. AESL is expecting a few more awards in the coming months for Seismic services which will further strengthen the company’s order book, he added.
