Asian Energy Strikes Oil at Mevad Field in Gujarat NM-01 Well to Peak at 130 BOPD
Asian Energy Services Limited has announced a promising onshore oil discovery at Gujarat’s Mevad field, with the NM-01 well demonstrating peak production potential of up to 130 barrels of oil per day, strengthening domestic crude output and future field development plans.
MUMBAI, January 31, 2026 – Asian Energy Services Limited (Asian Energy) has announced a significant oil discovery at the onshore Mevad field in Gujarat. The discovery follows the successful drilling and testing of the NM-01 well, which has demonstrated a potential peak production rate of approximately 125–130 barrels of oil per day (bopd).
The NM-01 well reached a total depth of 1,650 meters, encountering three distinct hydrocarbon-bearing sand intervals: Mandhali, Sobhasan, and Kalol. Currently, the well is producing 100 bopd during the testing phase from the Sobhasan sand, with optimization expected to drive rates higher.
Strategic Asset Development in Gujarat
This discovery marks a pivotal moment for the Mevad block, where Asian Energy holds a 50% participating interest under a Revenue Sharing Contract. The success of the NM-01 well exceeds initial estimates, and field partners, including Oilmax Energy, are already planning additional wells to evaluate the full lateral extent of the oil pool.
Economic Impact & Pricing Realization
Brent-Linked Pricing: Crude oil from the Mevad field will be supplied to domestic refineries with pricing linked to the Brent benchmark, ensuring market-aligned revenue realizations.
Domestic Production Growth: The discovery provides Asian Energy with immediate incremental domestic production exposure, reducing reliance on imported crude.
Consolidation Synergy: This find coincides with Asian Energy’s ongoing merger with Oilmax Energy, enhancing operational visibility and production capacity during the consolidation period.
