Friday, Mar 29 2024 | Time 07:47 Hrs(IST)
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Business Economy


Asian Oilfield Services gets LOI from Oilmax for contract of Rs 210 cr for 10 years

Mumbai, Mar 20 (UNI) Asian Oilfield Services Limited has received a binding Letter of Intent (LOI) from Oilmax Energy Private Limited for surface facilities for its Charaideo field in Assam to handle
and process hydrocarbon fluids.

The scope of work includes the engineering, procurement, construction, installation, commissioning, supply, and operations & maintenance of the said facilities. The value of the contract is approximated at Rs 210 crore, including operations & maintenance for 10 years.
Oilmax Energy Private Limited is the holding company and promoter of the Company. The Company has taken approval of the shareholders for the proposed related party transaction at its Annual General Meeting
held on 18th September, 2018. The transaction is on arms' length basis.
The Company has acknowledged the receipt of this Letter of Intent and has initiated the acceptance and execution of the same.
UNI JS NV SB 1657
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