L&T Hydrocarbon bags Rs1,150 crore mandate from ONGC
L&T Hydrocarbon has secured a Rs1,150-crore contract from ONGC pertaining to a Daman Development project
New Delhi: L&T Hydrocarbon Engineering has secured a Rs1,150-crore contract from ONGC pertaining to a Daman Development project.
“L&T Hydrocarbon Engineering, a wholly-owned subsidiary of Larsen and Toubro, has bagged an offshore contract for the Transportation and Installation - Daman Development project from Oil and Natural Gas Corporation (ONGC) valued at approximately Rs1,150 crore ($177 million)," Larsen and Toubro stated in a BSE filing on Wednesday.
The project, part of ONGC’s strategy to extract gas from the Daman field, is located in the south-western part of Tapti-Daman block in the Mumbai offshore.
The contract covers engineering, procurement, construction, installation and commissioning of the project. Shares of Larsen and Toubro were trading 0.55% higher at Rs1,149.10 apiece on the BSE.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!