L&T bags offshore contract worth Rs 2,715 cr from ONGC
.jpg)
L&T Hydrocarbon Engineering Ltd (LTHE), a subsidiary of Larsen & Toubro (L&T), on Wednesday said it has bagged an offshore contract from ONGC valued at Rs 2,715 crore.
The contract was won against international competitive bidding for the Oil & Natural Gas Corporation (ONGC) project at Bassein field near Mumbai coast in western offshore basin of India.
It encompasses total ‘EPCI’ — Engineering, Procurement, Construction and Installation — for the project, LTHE said in a filing.
“The project, part of ONGC’s strategy to enhance the field life and increase the recovery of Bassein Field, is scheduled to be completed by December 2017,” LTHE said in the filing.
The cumulative production from the field till 2027-28 is pegged at 19.56 billion cubic meters (BCM) of gas, 1.97 million cubic meters of condensate and 1.83 million metric tonnes (MMT) of oil.
This contract reiterates the long-term association of ONGC with L&T in the development of offshore fields in India, the filing added.
On June 22, L& T had also informed that its another arm, L&T Metallurgical and Material Handling (L&T-MMH) business has secured new orders worth Rs 1,507 crore across various verticals.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $15 billion revenue. It operates in 30 countries worldwide.
Other Latest News
.webp)
As the results for the Maharashtra polls will be announced tomorrow, Shiv Sena (UBT) leader Sanjay Raut on Friday exuded confidence in the victory of the Maha Vikas Aghadi (MVA), saying that around 160-165 MLAs will be elected from MVA.
Reacting to the speculations of the CM face from Maha Vikas Aghadi, Raut asserted that no formula has been made yet for the selection of the CM face as everyone will sit together and choose the CM.
.webp)
The Supreme Court on Friday issued a notice to the Enforcement Directorate (ED) in response to a petition from former Delhi Deputy Chief Minister and Aam Aadmi Party (AAP) leader Manish Sisodia. Sisodia sought a relaxation of the bail condition that mandates him to appear before the investigating officer every Monday and Thursday.
An SC bench of Justices BR Gavai and KV Viswanathan said that it would make a decision on the matter during the next hearing without any adjournment.
.webp)
Kenya's president said Thursday he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after US bribery and fraud indictments against one of Asia's richest men.
President William Ruto in a state of the nation address said the decision was made based on new information provided by our investigative agencies and partner nations. He didn't specify the United States.
.webp)
Asserting that the relationship between India and the US is built on a strong foundation, the White House has expressed confidence that it can navigate the ongoing crisis surrounding bribery charges against Indian billionaire Gautam Adani.
At her daily news conference, White House Press Secretary Karine Jean-Pierre told reporters on Thursday that the administration is aware of the charges against Adani.
.webp)
Prime Minister Narendra Modi on Monday (local time) held a bilateral meeting with his Italian counterpart, Giorgia Meloni, on the sidelines of the G20 Summit in Brazil. PM Modi stated that their discussions focused on strengthening ties in defence, security, trade, and technology. He remarked, "India-Italy friendship can greatly contribute to a better planet."
.webp)
.webp)
.webp)
.webp)
