Asian Oilfield Services rallies 8% on bagging two orders in Iraq

Asian Oilfield Services shares climbed 8.4 percent intraday on June 19 after bagging two orders in Iraq.

"We have received two public tenders (orders) for 2D and 3D CDP Seismic Acquisition within Block 12 in Iraq for $12 million and for $25 million totalling to $37 million," the company said in its BSE filing.

The order is to be executed within FY20 and FY21, it added.

After the current order, company's executable gross order book crosses Rs 850 crore on a consolidated basis, giving good revenue visibility for FY20 and FY21, Asian Oilfield said.

While commenting on the same, Ashutosh Kumar, Whole-time Director and CEO said, "We remain confident of delivering these projects within the stipulated timelines and to client satisfaction."

The stock was quoting at Rs 74.15, up Rs 2.20, or 3.06 percent on the BSE at 1325 hours IST.