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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