Asian Energy Services announces oil discovery at onshore Mevad field in Gujarat

Asian Energy Services Limited has announced a new oil discovery at the onshore Mevad field in Gujarat. The discovery was made on well NM-01 following drilling to a depth of 1,650 metres. Hydrocarbon-bearing sand intervals were encountered at Mandhali, Sobhasan and Kalol. As part of the testing phase, around 100 barrels of oil per day (bopd) are being produced from the Sobhasan sand, with test data indicating a production rate potential of 125-130 bopd. Further, oil produced is expected to be supplied to domestic refineries under offtake agreements. The block is under the revenue sharing contract, with Asian Energy holding a 50 per cent participating interest, Oilmax Energy Private Limited 10 per cent, and the remaining is held by other partners.