Larsen & Toubro (L&T) has announced that its hydrocarbon offshore business, L&T Energy Hydrocarbon Offshore (LTEH Offshore), has secured an ‘ultramega’ order worth more than Rs 15,000 from ADNOC Offshore for a major offshore project in the Middle East.
The project will be executed through a consortium, with L&T Energy Hydrocarbon Offshore serving as the lead partner. It involves the development of multiple offshore facilities.
L&T to handle major share of EPCIC work
As the lead consortium partner, L&T Energy Hydrocarbon Offshore will execute the majority of the project. Its scope includes engineering, procurement, construction, installation and commissioning (EPCIC) of offshore facilities, along with the upgrade of existing infrastructure.
A significant part of the fabrication work will be carried out at L&T’s fabrication yards. The company said it will leverage its integrated EPCIC capabilities and experience in executing large and complex offshore projects across the region.
Strong offshore track record
L&T Energy Hydrocarbon Offshore provides EPCIC solutions for the offshore oil and gas industry. The business is backed by in-house engineering capabilities, fabrication facilities and a fleet of marine vessels.
Over the past four decades, the company has delivered several offshore projects, including fixed platforms, subsea pipelines and structures, brownfield upgrades and decommissioning projects in both shallow-water and deep-water fields.
About L&T
Larsen & Toubro is a $ 32 billion Indian multinational engaged in engineering, procurement and construction (EPC) projects, high-tech manufacturing, products and services. The company operates across multiple sectors and geographies and has been in business for more than eight decades.
L&T share price
The share price of L&T is trading flat in the intraday trading session. The stock has declined 1.28% in past six months. On year-to-date (YTD) basis, L&T shares declined 2.54%.