Wednesday, September 28, 2022

L&T Hydrocarbon Engineering secures ‘order from ONGC

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New Delhi: L&T Hydrocarbon Engineering said it has bagged a "significant" order from the Oil & Natural Gas Corp (ONGC). The engineering and construction company, a wholly-owned subsidiary of engineering major Larsen & Toubro, did not disclose the exact value of the contract. However, the value of the contracts was in the "significant" category, which amounts in the range of Rs 1,000 crore to Rs 2,500 crore, according to the company’s project classification.

EPCIC Contract

In BSE filing, the company informed that the engineering, procurement, construction, installation and commissioning (EPCIC) contract is for development of a cluster-8 marginal field, part of Mumbai High Asset located about 210 km to the west of Mumbai city. L&T added that they had been awarded the contract through international competitive bidding on a lump sum turnkey basis. The engineering major, organised under onshore, offshore, construction services, modular fabrication and engineering services verticals, provides design-to-build engineering and construction services across the hydrocarbon spectrum.

Engineering major secured Rs 7,000 project last month

Last month, the engineering major secured a mega deal worth more than Rs 7,000 crore from Sonatrach-Algeria. The company will set up to three Central Processing (CPF) facilities in the Adrar province of Algeria. Larsen & Toubro’s shares were trading 0.35 percent higher at Rs 1,356 apiece on BSE.

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