L&T Hydrocarbon Engineering Limited (LTHE), a wholly-owned subsidiary of infrastructure major Larsen & Toubro, has bagged an offshore contract valued at approximately Rs. 1150 crore (about $ 177 million) for the Daman Development Project from the public sector Oil and Natural Gas Corporation (ONGC).
The contract, won against international competitive bidding, encompasses total Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) for the project, a press release from the company said.
The project, part of ONGC’s strategy to extract gas from Daman Field, is situated in the south western part of Tapti - Daman block in Mumbai Offshore, located at about 160-200 km north-west of Mumbai and 160 km west of Daman.
The release said L&T has been serving the upstream hydrocarbon sector since the early 1990s. "This contract reiterates the long term association of ONGC with L&T in the development of offshore fields in India," it said.
The company’s offshore track record includes successful completion of several challenging projects for domestic and international clients. LTHE provides complete EPCIC solutions for the offshore oil & gas industry combining customized engineering, procurement, fast-track project management and world-class fabrication and sea installation capabilities meeting stringent timelines, conforming to international safety standards, the release added.