Alphageo awarded $3 million contract in Myanmar

NEW DELHI: Alphageo (India) today said its step down subsidiary has been awarded a $3 million contract for provision of 2D seismic acquisition services in Myanmar.

"Alphageo DMCC, Dubai, a first level step down 100 per cent subsidairy...has been awarded a contract for provision of 2D seismic acquisition services in Myanmar by CAOG Pte Ltd of an estimated value of USD 3 million," Alphageo (India) said in a BSE filing.

The company further said that it is envisaged that the "contract shall be executed during the financial year ending March 2016."

Shares of Alphageo (India) were trading at Rs 418 apiece, down 6.88 per cent from their previous close on the BSE.