Alphageo (India) (AGIL) and Aquila Drilling (ADPL) have entered into a joint venture (JV) agreement to carry out the business of geophysical/ geological services, drilling and other related services for hydrocarbon and mineral exploration, with financial and technical support of each other.
The business under this joint venture will be undertaken through Alphageo Offshore Services (AOSPL), which is currently a wholly-owned subsidiary of AGIL.
AGIL and ADPL will hold the equity capital in the ratio of 70:30 in AOSPL.