L&T arm wins Rs2,715-cr offshore contract
24 June 2015
L&T Hydrocarbon Engineering Limited (LTHE), a wholly-owned subsidiary of engineering and construction major Larsen & Toubro, today said state-run Oil and Natural Gas Corporation (ONGC) has awarded the company a Rs2,715-crore contract.
L&T said the offshore contract for the Bassein Development Project in western offshore basin of India, won against international competitive bidding, involves total 'EPCI' (Engineering, Procurement, Construction and Installation) of the project.
The scope of work includes one new process platform having gas processing and compression facilities, one nine-slot well head platform, topside modification on existing platforms, associated subsea pipelines and one living quarter platform in the Bassein Field.
The project, part of ONGC's strategy to enhance the field life and increase recovery of Bassein Field, is scheduled to be completed by December 2017. The cumulative production from the field till 2027-28 is pegged at 19.56 BCM of gas, 1.97 million cubic meters of condensate and 1.83 MMT of oil.
L&T has been serving the upstream hydrocarbon sector since early the '90s. This contract reiterates the long term association of ONGC with L&T in the development of offshore fields in India. The company's offshore track record includes successful completion of several challenging projects for domestic and international clients.
LTHE provides complete 'EPCI' solutions for the offshore oil & gas industry combining customised engineering, procurement, fast-track project management and world-class fabrication and sea installation capabilities meeting stringent timelines, conforming to international safety standards.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $15 billion revenue. It operates in 30 countries worldwide.