Asian Energy Services secured contract from Hardy Exploration & Production

Asian Energy Services Ltd (AESL) announced that it secured a contract from Hardy Exploration & Production (India) Inc. This contract, valued at approximately ₹48 crore, involves the installation of various infrastructure components, including flexible flow lines, dynamic risers, control umbilicals, and associated accessories within the PY3 Field situated along the Southern Coast of India.

The project’s base scope is slated for execution in FY25, with provisions for potential extensions included in the Letter of Intent, indicating Hardy Exploration & Production (India) Inc.’s confidence in AESL’s capabilities.

Kapil Garg, Managing Director of AESL, said, “We are thrilled to receive the Letter of Intent from Hardy Exploration & Production (India) Inc. This accolade speaks volumes about our standing and rapport within the Oil & Gas sector. We are poised to expand our service portfolio and fortify our partnerships with esteemed clients.”

According to the company, this contract solidifies its position as a player in the energy infrastructure domain, with recent successes in both mining services and, oil and gas services verticals.

The shares were down by 4.57 per cent to close at ₹239 on NSE.

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