"To face global competition we have to equip ourselves in engineering, procurement and construction (EPC) field and for this EIL is now seriously planning to take up LSTK projects.

"We have already bagged two contracts from ONGC in association with Larsen and Toubro (L&T), at combined worth of over Rs 380 crore for revamping offshore fields at Bombay High," company chairman and managing director K Satyanarayanan told PTI in an interview.

In addition to its core area of consultancy services, EIL is also planning to go for a strategic partner on a project-to-project basis, Satyanarayanan said.

The company has already entered into a memorandum of understanding with US engineering contractor MW Kellogg for jointly bidding for the EPC contract to set-up liquefied natural gas(LNG) terminals at Kochi in Kerala and Dahej in Gujarat.

"We have also jointly quoted for the EPC contract in Tamil Nadu for the Rs 2,000-crore LNG terminal project at Ennore," Satyanarayanan said.

EIL is planning to make business its core area of operations. The company has also started scouting for turnkey contracts from various other large private and public sector companies, he said.

EIL is also looking for LSTK projects abroad. The company already has its presence in countries like Kuwait, Malaysia, Algeria, Norway and Dubai, Satyanarayanan said.