Bid & Tender


UAE’s Svetah Awards FPSO Services Contract in India to Asian Energy

India’s Asian Energy Services has secured a contract from UAE-based Svetah Energy Infrastructure for the operations and maintenance works on the floating production storage and offloading system (FPSO), Svetah Venetia. The 1998-built unit, formerly known as Petrojarl Varg, is to be deployed for production of oil and gas in the shallow-water PY-3 field about 80 km south of Pondicherry off India’s east coast.


Svetah won the contract from Hardy Exploration & Production India, the field operator, to provide the floater for five years, with additional extension options attached. The company acquired the FPSO for $22m from Altera Infrastructure in April 2022.


Asian Energy Services’ deal is worth around $20mn, with a primary term of 5 years, starting from the date of Svetha Venetia’s readiness to receive hydrocarbons from the field.


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