Asian Oilfield Services announced that the company's wholly owned subsidiary Asian Oilfield & Energy Services DMCC, Dubai has signed a contract for providing Operations and Maintenance Services (O&M) for an offshore production unit operating at EBOK field offshore Nigeria. The total value of contract is about USD 95 million for a total period of 5 years (inclusive of client options).

The company has now informed that the Company have earlier announced on December 27, 2016 about receipt of a binding Letter of Intent (LOI) for contract of approximately USD 57 million for providing O&M services for 3 years. The above contract of USD 95 million for a total period of 5 years (inclusive of client options) is for the same LOI.

The Company's wholly owned subsidiary Asian Oilfield & Energy Services DMCC has also entered into an agreement to acquire 99.99% shareholding of Ivorene Oil Services Nigeria Limited (a company registered under Nigeria) to provide local support for this O&M contract.

Shares of the company gained Rs 7.2, or 4.37%, to trade at Rs 172.00. The total volume of shares traded was 116,688 at the BSE (10.50 a.m., Thursday).