India: L&T wins $194 million worth offshore deal with ONGC
- Business & Finance
L&T Hydrocarbon Engineering Limited (LTHE), a subsidiary of Larsen & Toubro, has bagged a contract for balance work for pipeline replacement project-4 from India’s Oil & Natural Gas Corporation (ONGC).
L&T said on Monday that the contract was valued at approximately ₹ 1,267 crores ($194 million).
The contract encompasses total engineering, procurement, construction, installation, and commissioning (EPCIC) scope for the project.
The company added that 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. The assets are situated in the Western Offshore field in the Arabian Sea on the continental shelf of Western India.
“This contract reiterates the long-term association of ONGC with L&T in the development of offshore fields in India,” the company said.
LTHE already won a contract this year for work on one of ONGC’s fields. Namely, the company was awarded a deal for the Neelam re-development & B173AC project back in March.