Asian Oilfield’s subsidiary receives LoI worth USD 20 million
DSIJ Intelligence / 07 Aug 2017
Asian Oilfield Services’ wholly-owned subsidiary, Asian Oilfield and Energy Services DMCC, Dubai, has received a Letter of Intent (LoI) for a contract of USD 20 million from Stratum Energy Romania, LLC for acquisition of 730 sq. km of 3D seismic data in EV-1 Moinesti Block in onshore Romania.
Asian Oilfield Services’ wholly-owned subsidiary, Asian Oilfield and Energy Services DMCC, Dubai, has received a Letter of Intent (LoI) for a contract of USD 20 million from Stratum Energy Romania, LLC for acquisition of 730 sq. km of 3D seismic data in EV-1 Moinesti Block in onshore Romania. This LoI is subject to the parties concluding a contract with mutually acceptable terms.
Meanwhile, on the bourses, the stock witnessed a jump of 8.33% at Rs 186 per share at 1229 IST on the BSE. The stock’s total traded quantity stood at 1.05 lakh. On a yearly basis the company has given 234% returns and outperformed the BSE Small-Cap index and BSE Oil & Gas index.