Offshore service provider Great Offshore has been awarded a lump-sum turn key engineering contract of around Rs 234 crores by ONGC, the country's largest oil and gas producer. The contract execution is scheduled to be completed by middle of CY 2010, the company said in a release to the Bombay Stock Exchange.
The engineering, procurement, installation and commissioning contract scope involves carrying out engineering , fabrication, transportation and installation of barge bumpers, boat landings, riser protectors on 79 ONGC s offshore platforms aimed at accomplishing ONGCs commitment to enhancing safety. the work will be carried out at production/process platforms in the western Indian fields of Bombay High, Bassein and Satellite and Neelam & Heera.
This contract represents an important milestone in Great Offshore’s attempt to grow its engineering, services and projects earnings to complement its offshore logistics and drilling services earnings. consolidated revenues from engineering and services and projects during FY 2007-08 attributed to around Rs 25 crores.
“It’s been our constant endeavour to diversify the growth drivers for our business. This contract is a big step in that direction,” Vijay K Sheth, Vice-Chairman cum MD of Great offshore said.