Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
23 June, 2018 09:57 IST
Larsen & Toubro secures contract around worth Rs 12.67 bn
Source: IRIS | 13 Nov, 2017, 10.22AM
Comments  |  Post Comment

L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of Larsen & Toubro, has bagged an offshore contract for the Balance Work for Pipeline Replacement Project-4 from Oil & Natural Gas Corporation (ONGC) valued at approximately Rs 12.67 billion (~ 194 million USD).

The contract, won against international competitive bidding, encompasses total 'EPCIC' - Engineering, Procurement, Construction, Installation and Commissioning for the project. The project, part of ONGC's (Q,N,C,F)* strategy to replace some of its well fluid, gas lift and water injection pipelines along with brownfield modification works on existing platforms in its Mumbai High, Neelam, Heera and Bassein & Satellite Fields which are situated in the Western Offshore field in the Arabian Sea on the continental shelf of Western India.

L&T has been serving the upstream hydrocarbon sector since the early '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 (Q,N,C,F)* provides complete 'EPCIC' solutions for the offshore oil & gas industry combining customized engineering, procurement, fast-track project management and world-class fabrication and sea installation capabilities meeting stringent timelines, conforming to international safety standards.

Shares of the company gained Rs 6.85, or 0.56%, to trade at Rs 1,223.45. The total volume of shares traded was 126,091 at the BSE (10.08 a.m., Monday).

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
DHFL expects 30% growth in home loan disbursements from Karnataka - 22-Jun-2018 11:22
KPIT, Kinetiq announce strategic life sciences collaboration - 22-Jun-2018 11:09
AstraZeneca receives marketing permission for Durvalumab in India - 22-Jun-2018 11:05
JSW Steel to invest USD 500 mn to upgrade Acero Junction plant in USA - 22-Jun-2018 11:01
HCL Technologies partners with Nokia for digital transformation - 22-Jun-2018 10:24
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer