L&T wins twin orders from ONGC
The hydrocarbon engineering division of L&T has been awarded twin orders from ONGC. The company has categorised the order as large order, which mean the order value is between Rs. 2,000 to Rs. 5,000 crore.
Both the orders are EPCIC contracts situated at Mumbai High. For the first order, the company has been engaged to Engineer, Procure, Construct, Install and Commission (EPCIC) development of Heera Panna Block located in the Western Offshore basin about 70 km to the South West of Mumbai High. The project includes 2 well head platforms, 49km subsea rigid pipelines, 10 units of riser installation and modification work at 7 existing platforms and the Heera Process Complex.
The second project consists of development of Mumbai High South field located in the Western Offshore basin which is 210 km to the West of Mumbai city. This project includes 1 Water Injection Process platforms bridge connected to existing WIS platform, a 100 men Living Quarter, modification and interconnection of all utilities with existing platforms. Above contracts have been awarded through international competitive bidding on a Lump Sum Turn Key (LSTK) basis.
At 3.15 pm stock traded at Rs. 1548, marginally down by 0.17 per cent on BSE.