Home > companies > news > L&T Hydrocarbon bags Rs1,150 crore mandate from ONGC

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.

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