Vedanta awards Rs 865 crores integrated service contract to AESL

Vedanta Ltd. awards Rs 865 crore integrated service contract to Asian Energy Services Ltd., AESL announced on Sunday.

The contract is awarded for field development and Operations & Maintenance (O&M) contract. The total contract value is Rs 865 crores, including GST.

The mentioned integrated service order will be executed by Asian Energy Services Ltd. over a span of 57 months, the company said in a stock exchange filing.

“We are honoured to receive Integrated Service Contract for field development and Operations & Maintenance (O&M) contract from Vedanta, one of our valued and long-standing clients," said Kapil Garg, MD, AESL.

Integrated O&M remains a core area of focus at Asian Energy Services and a key growth driver, he added.

Since its acquisition by Oilmax Energy Private Limited (OEPL), AESL has diversified its business verticals to capture more value across the energy and upstream oil and gas value chains, for long-term value creation for its investors and stakeholders.