L&T Bags 'Large' Offshore Contract Worth Up To Rs 5,000 Crore From ONGC

L&T Hydrocarbon Engineering Limited (LTHE), a wholly owned subsidiary of Larsen and Toubro, has secured a "large" contract from Oil and Natural Gas Corporation (ONGC) for the seventh development phase of their Pipeline Replacement Projects (PRP-VII), the company said in a statement on Friday (28 January).

The contract was awarded through international competitive bidding process and includes laying of around 350 km long subsea pipelines among other things.

Though the company has not revealed the exact value of the orders, the contract falls under 'large' category which ranges between Rs 2,500 crore to Rs 5,000 crore.

"The EPCIC contract involves Engineering, Procurement, Construction, Installation and Commissioning of around 350 km long subsea pipelines and related offshore works spread out across India’s west coast offshore fields of ONGC," the company said.

"This contract, awarded through international competitive bidding, reposes ONGC’s confidence in LTHE’s capabilities and commitment to support ONGC in strategic Oil & Gas Sector, and contribute to India’s energy security," it added.