L&T rises upon winning a large offshore contract from ONGC

This contract was signed for the seventh development phase of ONGC’s Pipeline Replacement Projects (PRP-VII).

Larsen & Toubro Ltd (L&T), an Indian multinational engaged in engineering, procurement and construction (EPC) Projects, Hi-Tech manufacturing and services, announced today that L&T Hydrocarbon Engineering Limited (LTHE), its wholly-owned subsidiary has won a large offshore contract from Oil & Natural Gas Corporation (ONGC).  

L&T Hydrocarbon Engineering (LTHE) is a construction engineering company that provides integrated 'design to build' solutions to large and complex offshore and onshore hydrocarbon projects across the world.  

This contract was signed for the seventh development phase of ONGC’s Pipeline Replacement Projects (PRP-VII). Under this contract, LTHE shall undertake the engineering, procurement, construction, installation and commissioning of approximately 350 km subsea pipelines and related offshore works spread out across the country’s west coast offshore fields of ONGC. 

This order win has been classified as a large contract, and its cumulative value falls within the range of Rs 2,500 crore to Rs 5,000 crore. 

At 12.21 pm, the share price of Larsen & Toubro Ltd (L&T) was trading at Rs 1937.90, which was an increase of 1.40 per cent from the previous day’s closing price of Rs 1911.20 on BSE.