L&T bags ‘significant’ orders for hydrocarbon business

NEW DELHI: L&T Energy Hydrocarbon, the hydrocarbon business arm of Larsen and Toubro Ltd., has been awarded vital contracts, it mentioned in a regulatory submitting to the inventory exchanges on Monday.

The firm classifies initiatives value 1,000 crore to 2,500 crore as “vital”.

The EPC main mentioned that the business has obtained India’s first contract for decommissioning of offshore services from British Gas Exploration and Production India, a part of Shell Plc Group of corporations.

The contract entails engineering, preparation, elimination and transportation of 5 offshore wellhead platforms and related services on the Tapti area, off India’s west coast, which is being operated by the Joint Venture of BGEPL, ONGC, and RIL, the submitting mentioned.

L&T Energy Hydrocarbon has additionally secured an order from Oil & Natural Gas Corporation (ONGC) for stability works of Pipeline Replacement Project-VI Project (PRP-VI). The scope entails laying of approx. 42 kms subsea pipelines and related subsea works throughout India’s west coast offshore fields of ONGC.

“These order awards are testimony to L&T’s execution excellence spanning throughout the whole Hydrocarbon worth chain and reinforce its management place as a one-stop resolution supplier,” the filing read.

Larsen & Toubro is an Indian multinational engaged in EPC projects, manufacturing, and services. It operates in over 50 countries worldwide.

L&T’s consolidated net profit rose 22.5% on year to 2,228.97 crore amid a 23% rise in net sales to 42,762.61 crore in Q2 FY23.

On Monday, L&T shares ended at 2,065.05, up 0.11% from earlier shut.

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