L&T Hydrocarbon Engineering bags twin orders from ONGC

Larsen & Toubro (L&T) Hydrocarbon Engineering Thursday said it has won twin orders from Oil & Natural Gas Corporation (ONGC) for work in the western offshore basin. The engineering, procurement, construction, installation and commissioning (EPCIC) contracts awarded are for the development of Heera Panna block and Mumbai High South field of the western offshore basin near Mumbai, L&T said in a BSE filing.

The company said the orders fall under "large" category which ranges between Rs 2,500 crore and Rs 5,000 crore as per its classification of contracts. L&T Hydrocarbon Engineering is a wholly-owned subsidiary of Larsen & Toubro. The company said these contracts have been awarded through international competitive bidding on a lump sum turnkey basis. Shares of L&T were trading 0.75 per cent higher Rs 1,562.50 apiece on BSE.