Home ECONOMY L&T wins Rs 894 crore contract for ONGC offshore project

L&T wins Rs 894 crore contract for ONGC offshore project

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Mumbai, Dec 29:

Engineering and construction conglomerate Larsen & Toubro (L&T) Monday said it has won an offshore contract worth Rs.894 crore from state-run Oil & Natural Gas Corporation (ONGC) for additional development of the Vasai East project.
L&T
L&T Hydrocarbon Engineering (LTHE) has bagged the complete turnkey contract from ONGC to improve the recovery factor of the Vasai East field, L&T said in a release here.

“The contract involves engineering, procurement, construction and installation of two wellhead platforms, sub-sea pipelines and modification of existing facilities in Heera-Panna-Bassein block of Mumbai offshore,” L&T said.

“The project, part of ONGC’s strategy to improve recovery factor of Vasai East field, where production started in 2008, is scheduled to be completed by April 2016,” it added.

The Rs.2,500 crore project will realise incremental oil production of 1.83 million tonnes and incremental gas production of 1.971 billion cubic metres by 2030. (IANS)