Moneycontrol PRO
HomeNewsBusinessStocksAsian Oilfield Services rallies 6% as Dubai subsidiary wins contract from Stratum Energy

Asian Oilfield Services rallies 6% as Dubai subsidiary wins contract from Stratum Energy

The letter of intent is for acquisition of 730 sq km of 3D seismic data in EV-1 Moinesti Block in onshore Romania.

August 07, 2017 / 12:05 IST
FILE PHOTO: A worker checks the valve of an oil pipe at the Lukoil owned Imilorskoye oil field near Kogalym, Russia, January 25, 2016. REUTERS/Sergei Karpukhin/File Photo
     
     
    26 Aug, 2025 12:21
    Volume
    Todays L/H
    More

    Asian Oilfield Services shares rallied 6 percent intraday Monday on winning contract by its Dubai subsidiary.

    "Wholly owned subsidiary, Asian Oilfield & Energy Services DMCC, Dubai has received a letter of intent (LOI) for a contract of USD 20 million from Stratum Energy Romania, LLC," the company said in its filing.

    The letter of intent is for acquisition of 730 sq km of 3D seismic data in EV-1 Moinesti Block in onshore Romania.

    This letter of intent is subject to the parties concluding a contract with mutually acceptable terms, the company said.

    Asian Oilfield Services is engaged in providing geophysical, drilling and well services to customers across the Indian sub-continent.

    At 11:47 hours IST, the stock price was quoting at Rs 181.00, up Rs 9.30, or 5.42 percent on the BSE.

    Posted by Sunil Shankar Matkar

    first published: Aug 7, 2017 12:05 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347