L&T wins ONGC offshore contract of Rs.2,715 crore

Mumbai, June 24 (IANS) L&T Hydrocarbon Engineering (LTHE), a subsidiary of engineering conglomerate Larsen & Toubro (L&T), on Wednesday said it has bagged a Rs.2,715 crore offshore contract from state-run hydrocarbons explorer ONGC.

“The project, part of ONGC’s strategy to enhance the field life and increase the recovery of Bassein field, is scheduled to be completed by December 2017,” LTHE said in a stock exchange filing.

“The contract was won against international competitive bidding for the Oil and Natural Gas Corporation (ONGC) project at Bassein field near Mumbai coast in western offshore basin of India,” the filing added.

The cumulative production from the field till 2027-28 is estimated at 19.56 billion cubic metres of gas, 1.97 million cubic metres of condensate and 1.83 million tonnes of oil.

On Monday, L&T announced that another subsidiary, L&T Metallurgical and Material Handling (L&T-MMH), has secured new orders worth Rs.1,507 crore across various verticals.

L&T, with over $15 billion in revenues, operates in 30 countries worldwide.

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