L&T bags offshore order of up to Rs 5,000 cr from ONGC for India's west coast development projects

Larsen & Toubro Limited (L&T) on Wednesday announced its energy hydrocarbon offshore business has secured a 'large' offshore order from state-run Oil and Natural Gas Corporation (ONGC) for additional development projects off India’s west coast.

The company classifies a large order as one valued between Rs 2,500 crore and Rs 5,000 crore.

Also read: Weak green hydrogen demand puts L&T's 1 GW plan on ice


The order has been awarded to L&T Energy Hydrocarbon Offshore (LTEH Offshore) for the Additional Development of Ratna-I (ADR-I) and NLM-14 projects, and involves engineering, procurement, construction, installation and commissioning of new offshore infrastructure.

Following the announcement, shares of L&T were trading at Rs 3,997.25 per script, up by Rs 37.25 (+0.94%) around 10:10 on BSE.

The scope of work includes three new well-head platforms, a riser platform, multiple segments of subsea pipelines and cables, as well as brownfield modifications to existing offshore installations.

The projects are aimed at enhancing production and supporting the continued development of ONGC’s offshore assets in the region, L&T said in a statement.

“The ADR-I and NLM-14 developments are significant additions to India's offshore energy infrastructure and demonstrate the continued investment in enhancing production from established offshore assets,” Parthasarathi Chatterjee, senior vice president and head of L&T Energy Hydrocarbon Offshore, said.

Also read: L&T-Mitsubishi to build world's largest APM system for Dubai's Al Maktoum International Airport

The projects combine new offshore facilities with modifications to existing operating fields, requiring engineering integration and execution across brownfield and new development infrastructure, he added.

LTEH Offshore provides integrated engineering, procurement, construction, installation and commissioning (EPCIC) solutions for the offshore oil and gas industry. The business has executed projects spanning fixed platforms, subsea pipelines and structures, brownfield upgrades and decommissioning assignments over the past four decades.

The latest order comes as ONGC continues to invest in developing and enhancing output from its offshore fields, with the state-run oil and gas producer looking to sustain production from existing assets while expanding infrastructure in India's western offshore basin.