Asian Energy Services: OEPL awarded Hydrocarbon Contract Area under DSF Bid Round-IV
Oilmax Energy Private Limited (OEPL), Asian Energy Services Limited's holding company, has been awarded a hydrocarbon contract area under DSF Bid Round-IV by the Government of India. OEPL will hold a 50% interest and operate the block. The award is subject to a Revenue Sharing Contract execution.
The contract is awarded to the holding company (OEPL) and not directly to Asian Energy Services Limited. However, it is relevant to the ongoing amalgamation scheme, suggesting a medium-term positive impact upon its completion.
The award of a hydrocarbon contract area is a positive development for the company's holding entity, indicating potential future business growth.
Asian Energy Services Limited (the Company) has been informed by its holding and amalgamating company, Oilmax Energy Private Limited (OEPL), that the Government of India has approved the award of Contract Area GK/OSDSF/GKOSN/2025 under the Discovered Small Field (DSF) Bid Round - IV to OEPL.
The Directorate General of Hydrocarbons (DGH), Ministry of Petroleum & Natural Gas, Government of India, formally communicated this award via a Letter of Award (LOA) reference no. DGH/DSF IV/LOA/2026/08/276, dated August 31, 2026, to OEPL.
OEPL will hold a 50% Participating Interest in the Block and will serve as the Operator. The award is contingent upon the execution of a definitive Revenue Sharing Contract (RSC) between the President of India and OEPL. The bid work program, commercial terms, contract area, map, and geographical coordinates submitted with the bid will be incorporated into the final RSC.
This contract has been awarded to OEPL, the holding/amalgamating company, and not directly to Asian Energy Services Limited. However, relevant to the ongoing Scheme of Merger by Absorption of OEPL into Asian Energy Services Limited (AESL), which is in its final hearing stage before the National Company Law Tribunal (NCLT), all assets, contracts, licenses, and blocks will legally vest into the Company upon the Scheme becoming effective.
A plain-language summary of a public exchange filing by Asian Energy Services Limited. Read the original for the full detail.