Larsen & Toubro’s hydrocarbon vertical has secured an order from the Oil & Natural Gas Corporation (ONGC) for Daman upside development project-wellhead platforms and pipelines (DUDP-WP), off the country’s west coast.
The contract is valued at 2,500-5,000 crore. The scope of work includes engineering, procurement, construction, installation, and commissioning of four wellhead platforms, 140-km pipeline and associated topside modifications at Tapti Daman block at a Western offshore location.
Subramanian Sarma, Whole-time Director & President (Energy), L&T, said: “This order demonstrates ONGC’s confidence in L&T forged through execution of multiple complex offshore projects and reinforces L&T’s commitment to contribute towards India’s energy security”.
L&T shares rose 2 per cent on the NSE to trade at ₹3,702.85 as of 1.19 pm. The stock of ONGC traded at ₹274.60, down by 0.33 per cent.