Larsen & Toubro (L&T) said its Energy Hydrocarbon Onshore business has won a ‘major’ engineering, procurement and construction (EPC) contract worth in the range of Rs 5,000- Rs 10,000 crore from Kuwait Oil Company (KOC).

L&T said in its regulatory filing that the order is to develop key export infrastructure for the Jurassic Light Oil (JLO) project in Kuwait.

About the project- L&T to enhance Kuwait’s crude handling network

Under the contract, L&T will build six new crude oil storage tanks, each with an operating capacity of 618,000 barrels, along with associated facilities on a lump sum turnkey basis.

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The project also includes the installation of new pipelines and the upgrade of Kuwait’s existing crude oil loading and export network. These improvements will help the country handle higher crude production and strengthen its export infrastructure.

Kuwait project strengthens L&T’s global EPC portfolio

L&T said the order reflects the oil and gas industry’s continued confidence in the company’s ability to execute large and complex hydrocarbon projects while maintaining high standards of safety, quality and operational excellence.

Commenting on the order, E S Sathyanarayanan, Senior Vice President & Head of L&T Energy Hydrocarbon Onshore and Member of the Divisional Board – L&T, said, “We are pleased to be entrusted with this major strategic project by Kuwait Oil Company. The development of the Jurassic Light Oil export infrastructure is an important investment in Kuwait’s energy sector and we are committed to supporting the country’s energy ambitions through reliable and world-class project execution.”

About L&T’s hydrocarbon business

L&T Energy Hydrocarbon Onshore is one of the company’s key EPC businesses. It provides lump sum turnkey solutions across the upstream, midstream and downstream hydrocarbon sectors.

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The business has executed several large projects across global markets, including refinery expansions, petrochemical complexes, gas processing plants, LNG terminals, fertiliser plants and cross-country pipeline projects.

Larsen & Turbo share price

The share price of Larsen & Toubro surged nearly 3% during intraday trade. L&T shares have declined 3.69% over the past three months. On a year-to-date (YTD) basis, the stock has fallen 4.71% so far this year.