Home / Companies / News /  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 significant contracts, it said in a regulatory filing to the stock exchanges on Monday.

The company classifies projects worth 1,000 crore to 2,500 crore as “significant".

The EPC major said that the business has received India’s first contract for decommissioning of offshore facilities from British Gas Exploration and Production India, part of Shell Plc Group of companies.

The contract involves engineering, preparation, removal and transportation of five offshore wellhead platforms and associated facilities at the Tapti field, off India’s west coast, which is being operated by the Joint Venture of BGEPL, ONGC, and RIL, the filing said.

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

“These order awards are testimony to L&T’s execution excellence spanning across the entire Hydrocarbon value chain and reinforce its leadership position as a one-stop solution provider," 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 previous close.

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