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| Exchange Received Time 22/10/2018 11:43:50 Exchange Disseminated Time 22/10/2018 11:43:57 Time Taken 00:00:07 | The Company's wholly owned subsidiary Asian Oilfield & Energy Services DMCC, Dubai ('Asian DMCC') has received a binding Letter of Intent ('LOI') from Amni International Petroleum Development OML 52 Company Limited ('Amni') to commence engineering and project management work for upgrade of Amni's existing production facility under the forthcoming project contract of EPCC. The value of LOI is USD 1.4 million. Asian DMCC has signed and accepted the LOI.
Asian DMCC is in the advance stage of negotiation for the entire EPCC contract (engineering, procurement, construction and commissioning) for upgrading the aforesaid production facility with Amni. The Company shall keep the exchange informed of the progress of the contract.
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