Larsen & Tourbo Limited (L & T) has secured a Rs. 1300-crore turnkey order from Oil and Natural Gas Corporation (ONGC) for an offshore project. L & T will set up and deliver the BCP-B2 booster compressor platform in about two years to the upstream oil major.
The platform, to be located in the Bassein gas field, about 80 Km north-west of Mumbai, will rest on the seabed supported by a jacket structure. It will compress natural gas, using turbine driven compressors. The compressor will be bridge-linked to ONGCs existing BCP-B platform.
It is the seventh gas treatment and compression facility to ba delivered by L & T, which makes available to oil companies world wide a strong capability for gas reinjection projects. All critical structures for the project will be delivered from L & Ts modular fabrication facility at Hazira. L & T has acquired over 100 acres of land to expand its complex at Hazira to cater to the increasing demands from the oil and gas sector in India and abroad.
In nivember, the company had bagged a turnkey project valued at Rs. 1000 crore from ONGC for four new well-head platforms for Mumbai High North and Bassien fields.
K Venkataramanan, board member and president (engineering and construction projects), L & T, said, "The ONGC orders have come on the back of some large contracts executed for international oil majors in the Gulf and Africa. They affirm L & Ts turnkey project capabilities in the energy and hydrocarbon sector and its ability to execute technology intensive, world-scale projects in India and abroad."
L & T share rose to 1.33% to Rs. 1731.35 in Mondays trade.