Asian Energy Services increased 2.53% to Rs 101.47 after receiving a letter of award (LoA) from Svetah Energy Infrastructure FZE, UAE for Svetah Venetia operations and maintenance works (O&M). According to the consortium agreement, Svetah Energy Infrastructure FZE is a consortium partner for the operations and maintenance of the floating production storage and offloading system (FPSO) named Svetah Venetia, which will be deployed for oil and gas production in the offshore area of contract area CY-OS-90/1 (PY3 field), near Puducherry on India’s east coast. LoA is estimated to be worth around $20 million, or Rs 165 crore. The primary term is proposed to be 5 years, beginning with Svetha Venetia’s readiness to receive hydrocarbons from the PY 3 field.
After receiving a letter of award (LoA) from Svetah Energy Infrastructure FZE, UAE for Svetah Venetia operations and maintenance works, Asian Energy Services increased 2.53% to Rs 101.47. (O&M).
Svetah Energy Infrastructure FZE is a consortium partner for the operations and maintenance of the Svetah Venetia floating production storage and offloading system (FPSO), which will be deployed for oil and gas production in the offshore area of contract area CY-OS-90/1 (PY3 field), near Puducherry on India’s east coast. LoA is valued at approximately $20 million, or Rs 165 crore. The primary term is proposed to be 5 years, beginning with the readiness of Svetha Venetia to receive hydrocarbons from the PY 3 field.