The contract would comprise development of a marginal field associated with the Mumbai High oil field.
L&T Hydrocarbon Engineering (LTHE), a subsidiary of engineering and construction major Larsen & Toubro, has recently announced that it has secured a large EPCIC (engineering, procurement, construction, installation and commissioning) contract from Indian oil and gas major, Oil & Natural Gas Corporation (ONGC).
Sources close to the matter claim that LTHE did not reveal an exact value of the contract, however, it is estimated that the contract, based on its project classification, would be worth around Rs 1,000 crore to Rs 2,500 crore.
According to Moneycontrol, L&T said that the contract would comprise the development of cluster-8 marginal field associated with the Mumbai High oil field asset located about 210 km to the west of Mumbai city. The company added that the contract has been granted through international competitive bidding on a lump sum turnkey basis.
As per sources, the project would include EPCIC of three well platforms, one bridge connected well head cum riser platform, three clamp-on structures, around 59 km long pipelines and altering of two already existent platforms.
For the record, Larsen & Toubro, headquartered in Mumbai, is one of the largest construction companies in India with operations in over 30 countries worldwide. The company’s Hydrocarbon Engineering Ltd. (LTHE) effectively provides integrated ‘design-to-build’ engineering and construction solutions to onshore and offshore hydrocarbon projects worldwide.
According to sources, LTHE’s track record includes the execution of complex, multiple, large-value projects that meet tight delivery schedules, quality and safety norms.
Competitive know-how in project management, procurement, engineering, fabrication, construction, manufacturing, installation and commissioning along with best-in-class HSE (Health, Safety and the Environment) standards have enabled the company to consistently deliver on all parameters, claim sources.
As per market reports, L&T shares were recently trading 0.35% higher at Rs 1,356 apiece on the Bombay Stock Exchange.