By Pravin PrashantPetro Chemical, August 01, 2020
Asian completes first phase of Cambay 2D work for Vedanta
The company is also in the process of submitting bids for Oil India and ONGC tenders.
Asian Oil Field Services Limited has completed the first phase of seismic services of Vedanta Limited with respect to Cambay 2D oil block in Rajasthan.
Asian has already incurred a Capex of about Rs. 55 crore for this project. The company plans to fund the same from a mix of internal accruals and vendors deferred payment plan.
Asian has received a contract from Vedanta Limited (a reputed Oil & Gas company) for acquisition of 2D and 3D seismic data of oil blocks located in Rajasthan and Gujarat. The duration of the contract is 2-3 years and the company will perform services pursuant to call out notice for respective block/area. The actual volume and value of work along with duration will be subject to issuance of call out notice.
The Vedanta project is worth Rs. 550 crore for 2-3 years and includes acquisition of 2D and 3D seismic data of oil blocks located in Rajasthan and Gujarat.
The company has submitted bids for a few projects for Oil India for seismic services. The company is also in the process of submitting bids for Oil India and ONGC tenders.
Asian Oilfield Services Limited specializes in servicing the entire value chain from seismic data acquisition, analysing data, turnkey drilling, building oil and gas production facilities and undertaking O&M of production facilities.