India: L&T scores offshore contract with ONGC
- Business & Finance
L&T Hydrocarbon Engineering Limited (LTHE) has signed an offshore contract for the Bassein Development 3 Well Platform & Pipeline Project with India’s Oil & Natural Gas Corporation (ONGC).
LTHE, a wholly-owned subsidiary of Larsen & Toubro, said on Friday that the deal was valued at approximately ₹ 1,483 crores (about $234 million).
The deal encompasses engineering, procurement, construction, installation, and commissioning (EPCIC) for the project. The EPCIC scope includes three new wellhead platforms, a 23-kilometer subsea pipeline, composite subsea power cable, clamp-on works on an existing platform, and modification work on nine existing platforms in the western offshore basin in India.
The company added that the project was a part of ONGC’s strategy to jointly develop B-147, BSE-11, and NBP-E small and marginal fields and blocks and was scheduled to be completed by May 2019.
To remind, LTHE and ONGC cooperated before on several contracts, the last of which was a deal for balance work for pipeline replacement project-4 from ONGC worth $194 million awarded in November 2017.
The project was a part of ONGC’s strategy to replace some of its well fluid, gas lift, and water injection pipelines along with brownfield modification work on existing platforms in its Mumbai High, Neelam, Heera, and Bassein & Satellite fields.