India’s L&T bags $245M worth contract award from ONGC
- Business & Finance
India’s engineering and construction company L&T Hydrocarbon Engineering Limited (LTHE), a wholly owned subsidiary of Larsen & Toubro, has won an offshore contract from the Oil & Natural Gas Corporation (ONGC) for the Neelam re-development & B173AC project, off India.
The Neelam offshore field is situated in the Heera-Panna block in Mumbai offshore, located at about 45 km South-West of Mumbai city.
According to L&T’s statement on Monday, the contract, which is valued at $245 million, encompasses total EPCIC – Engineering, Procurement, Construction, Installation and Commissioning – for the project.
The scope includes one new process platform having gas processing and compression facilities, three new well head platforms, 32 km pipeline, clamp-on on three existing platforms and modification work on eight existing platforms in the Neelam field in western offshore basin in India.
The project, part of ONGC’s strategy to enhance the field life and increase recovery of Neelam field, is scheduled to be completed by April 2019.
L&T noted that the incremental gain from the field after implementation of project till 2034-35 is pegged at 2.76 MMT crude oil and 4.786 BCM gas.