Asian Energy Services Limited — Updates, 17-12-2024: Press Release

Asian Energy Services Limited (AESL) has secured a contract valued at approximately Rs. 200 crores from Assam Gas Company Limited for supplying a compressor station on a Build, Own, Operate, and Transfer (BOOT) basis for three years. The contract is expected to generate around Rs. 82 crores in revenue during the first year, realized on a Free on Truck (FOT) site basis, inclusive of freight, unloading, and stacking, but excluding GST. The mobilization of the first compressor is anticipated to be completed in Q4 FY25, with subsequent units scheduled for the following financial year.

The Managing Director, Kapil Garg, expressed that this contract highlights AESL's commitment to the operations and maintenance sector, reinforcing their expertise in delivering comprehensive upstream energy solutions. As the government focuses on natural gas in its energy transition strategy, AESL is positioned to tap into emerging opportunities, reflecting a positive outlook for the company's growth in the evolving energy market.