Tuesday , October 19 2021

Asian Oilfield Services’ arm enters into settlement deed of $4 million

Asian Oilfield Services’ wholly owned subsidiary–Asian Oilfield & Energy Services DMCC (ADMCC) has entered into a Settlement Deed of $4 million as final settlement amount with Koral Energy International for recovery of monies due under the Service Contract.

Earlier, the company’s subsidiary ADMCC had received an alleged termination notice from Koral Energy International pertaining to the Service Contract for Operations & Maintenance, dated February 17, 2017 (Service Contract).

Asian Oilfield Services provides range of services to reputed national and multinational companies. The company banks on the rich experience of well qualified professionals for providing seismic data acquisition, processing and Interpretation services.

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