Asian Energy Services Limited announces signing of long term MOU with RosGeo

Asian Energy Services Limited ("AESL"), specializing in servicing energy sector has announced signing of MOU with RosGeo.

AESL has signed an 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.

Mr. Ashutosh Kumar, Whole time Director and CEO, said, "We are excited and pleased to partner with RosGeo for long term cooperation. 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. Further, expertise of RosGeo in aerogeophysical, gravity & magnetic surveys will also help us in exploring opportunities in other minerals segment. This partnership with RosGeo provides us 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."

Shares of Asian Energy Services Ltd was last trading in BSE at Rs. 157.05 as compared to the previous close of Rs. 153.65. The total number of shares traded during the day was 251679 in over 2533 trades.

The stock hit an intraday high of Rs. 161.55 and intraday low of 152.90. The net turnover during the day was Rs. 39906757.00.

Source : Equity Bulls

Keywords

AsianEnergyServices INE276G01015 EnergySector RosGeo MOU SeismicSurvey Geophysicalsurvey