Asian Oilfield'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 in Nigeria. The total value of contract is about US$ 95 million for a total period of 5 years.

The company had announced earlier in December, regarding a a binding Letter of Intent (LOI) for a contract of approximately US$ 57 million for providing O&M services for 3 years. The $95 million contract is part of the same letter of intent, and an expansion of the services required. 

The company's subsidiary 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.