Monday , 6 December 2021
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Asian Energy Services gains on signing MoU with RosGeo

Asian Energy Services gains on signing MoU with RosGeo

Asian Energy Services is currently trading at Rs. 163.00, up by 1.15 points or 0.71% from its previous closing of Rs. 161.85 on the BSE.

The scrip opened at Rs. 163.00 and has touched a high and low of Rs. 163.80 and Rs. 160.10 respectively. So far 116793 shares were traded on the counter.

The BSE group ‘X’ stock of face value Rs. 10 has touched a 52 week high of Rs. 178.65 on 16-Sep-2021 and a 52 week low of Rs. 83.55 on 22-Dec-2020.

Last one week high and low of the scrip stood at Rs. 166.00 and Rs. 148.00 respectively. The current market cap of the company is Rs. 616.23 crore.

The promoters holding in the company stood at 59.61%, while Institutions and Non-Institutions held 0.08% and 40.30% respectively.

Asian Energy Services (AESL) has signed a memorandum of understanding (MoU) with Russian Joint Stock Company Rosgeologia (RosGeo) for long-term cooperation in seismic and geophysical surveys in India and other countries. Under this MoU, both AESL and RosGeo will jointly consider opportunities in offshore, onshore and transit geophysical work including data acquisition, processing and interpretation. The cooperation between both parties expands to aero-geophysical, gravity & magnetic surveys as well and other services including drilling as mutually agreed between AESL and RosGeo.

AESL has been focusing mainly on onshore seismic surveys in India and with this MoU, AESL will be able to explore various opportunities in Offshore and Transit zone seismic surveys as well. This partnership with RosGeo provides AESL both technical strength as well operation capabilities with access to very wide resources (equipment and manpower) pool. This long term cooperation will be a stepping stone in AESL journey to expand its services portfolio to different type of geophysical surveys in all terrains be it onshore, offshore and transit.

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.