L&T bags Rs 5,000–10,000 crore ONGC offshore EPC contracts for west coast projects

L&T- ONGC: Contract details

Under the scope of work, LTEH Offshore will carry out the engineering, procurement, construction, installation and commissioning (EPCIC) for PRP-X and Well Head Platforms. This comprises EPCIC work of PRP-X  for its multiple subsea pipeline segments, alongside related modification works across ONGC’s offshore fields.

For Well Head Platform Projects, L&T will be involved in the EPCIC of its four Well Head Platforms. 

The Larsen & Toubro subsidiary provides integrated EPCIC solutions for the offshore oil and gas industry. The company said its infrastructure is supported by in-house engineering capabilities, fabrication facilities, and a dedicated fleet of marine vehicles. 

“Over the past four decades, the business has executed a wide range of offshore projects, including fixed platforms, subsea pipelines and structures, brownfield upgrades, as well as decommissioning assignments,” L&T said in its press release.

L&T: Management commentary 

Speaking on the order win, Parthasarathi Chatterjee, Senior Vice President & Head – L&T Energy Hydrocarbon Offshore, said: “These orders reaffirm LTEH Offshore’s position as a trusted partner in the development of India’s offshore energy infrastructure…. We look forward to delivering these projects to ONGC and contributing to the nation’s energy aspirations”. 

L&T- ONGC share price

Larsen & Toubro’s stock ended Friday’s on the NSE at Rs 4,056, flat from its previous close. Over the past one month, its stock has delivered a return of nearly 3%, while over the past six months it has been trading in the red. 

ONGC’s stock too ended the trade nearly unchanged from its previous close at Rs 238.85. Over the past one month, its share price has fallen by 3%, while over the past six months it has declined more than 11%.