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Asian Oilfield Services Ltd. Company History and Annual Growth Details

M/s. Asian Oilfield Services Ltd. was incorporated as public limited Company & obtained the Certificate of Incorporation as a public limited company on 9th March, 1992 from the Registrar of Companies, Gujarat at Ahmedabad. The certificate for Commencement of Business was obtained
on 10th March, 1992. The company was formed by an association of professionals working in different fields to give integrated services in the areas of exploration & drilling of Oil/Gas to O.N.G.C., O.I.L. and such other private Companies.

The company is, at present, engaged in carrying out manual & mechanised Short Hole Drilling activities on behalf of ONGC & private Companies. The company proposes to expand its activities in workover rig services by purchasing 2 Nos. 30 Tons capacity and 1 no 50 Tons Workover Rigs at a total cost of Rs.416.50 lacs from USA. The cost of the project
has been estimated at Rs.658 lacs which is proposed to be financed, interalia, by public issue, as well as Foreign Currency Loan/DPG of Rs.150.00 lacs.


-Asian Oilfield Services Ltd has appointed Mr. Vikram Walia as an Additional Director on the Board of Directors of the Company w.e.f. October 12, 2007.


-Asian Oilfield Services Ltd has informed that Mr. Sumeet Narang has been appointed as a Nominee Director of Investor Company, M/s. Samara Capital Partners Fund I Ltd., on the Board of Directors of the Company w.e.f. January 30, 2008, in accordance with the Investment Agreement signed by the Company with M/s. Samara Capital Partners Fund I Ltd.