Asian Energy Services, an oil and gas services company, is aiming to double the business of its newly acquired Kuiper Group within the next three years.
Asian Energy is looking to add production O&M services to the Kuiper to expand its business in Central Asia and South East Asian Countries , said Kapil Garg, managing director at Asian Energy Services.
“With the Kuiper acquisition, we will be present in 15 countries. It is part of our global aspiration,” Garg said. Asian Energy acquired Kuiper Group from private equity firm Gulf Capital in an all-cash deal valued at $9.25 million.
“Currently, we are working on integrating the operations of the company, keeping in mind cultural sensitivities. Integration is expected to be completed by July,” Garg added.
Asian Energy is actively pursuing the inorganic route to become a global player. “We are open to acquiring companies at the right price,” Garg said.
For FY26, the company is targeting a topline of Rs 700 crore, a 45% increase over FY25. Of this, Rs 200 crore is expected from O&M services, Rs 150 crore from seismic services, and Rs 300–350 crore from coal handling, he explained. “We will revise the guidance after the completion of the Kuiper acquisition,” he added.
“We have orders for 80% our FY26 projected topline and out of seismic target of Rs 150 crore, Rs 80 crore worth orders are in place and Rs 70 crore of orders we have to win,” he said.
Asian Energy is also in the process of bidding for O&M contracts for oil fields owned by Vedanta on the East Coast, in Rajasthan, and in Gujarat.