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L&T Hydrocarbon Engineering awarded contract by ONGC

Posted On: 2019-03-08 09:30:28

L&T Hydrocarbon Engineering Limited (LTHE), a wholly owned subsidiary of Larsen & Toubro, has won a significant order from Oil & Natural Gas Corporation (ONGC).

The Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract is for development of Cluster-8 marginal field which is part of Mumbai High Asset located about 210 km to the west of Mumbai city.

Project scope includes EPCIC of three (03 Nos.) well head platforms, one (01 No.) bridge connected well head cum riser platform, -59 km pipelines, 3 nos. of clamp-on structure and modification work on two existing platforms.

The contract has been awarded through international competitive bidding on a Lump Sum Turn Key (LSTK) basis. This award reposes ONGC's confidence in LTHE's EPCIC capabilities and LTHE's commitment to continue to support ONGC and contribute to India's energy security.

Organized under Offshore, Onshore, Construction Services, Modular Fabrication and Engineering Services verticals, LTHE delivers 'design to build' engineering and construction solutions across the hydrocarbon spectrum.

Shares of LARSEN & TOUBRO LTD. was last trading in BSE at Rs.1351.25 as compared to the previous close of Rs. 1314.95. The total number of shares traded during the day was 349208 in over 15579 trades.

The stock hit an intraday high of Rs. 1357 and intraday low of 1310.4. The net turnover during the day was Rs. 469793961.


Source: Equity Bulls

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