Asian Energy Services Ltd (AESL), a prominent figure in the energy infrastructure domain, is pleased to announce its latest achievement – a significant contract win alongside its partner – from Hardy Exploration & Production (India) Inc. This contract entails the installation of flexible flow lines, dynamic risers, control umbilicals, and associated accessories in the PY3 Field situated along the Southern Coast of India. Valued at approximately Rs 480 million, including taxes, the project is slated for execution in the fiscal year 2025.
Moreover, the Letter of Intent includes provisions for potential work scope extensions by Hardy Exploration & Production (India) Inc., further solidifying AESL’s financial prospects for FY25. This milestone underscores AESL’s commitment to expanding its service portfolio in the Oil & Gas sector, with the overarching goal of becoming the preferred service provider for industry players.
Kapil Garg, the Managing Director of Asian Energy Services Ltd, expressed his enthusiasm, noting that they were delighted to have received the Letter of Intent from Hardy Exploration & Production (India) Inc. He emphasized that this recognition underscored their credibility and strong relationships within the Oil & Gas industry.
He also expressed that the execution of the newly acquired projects, along with their existing project portfolio, provides a solid foundation and ensures revenue visibility for FY25 and beyond. He further conveyed his excitement on contributing to the ongoing infrastructure development and modernization efforts in the energy and mining sectors.
