Larsen & Toubro Ltd, a $9.8 billion technology, engineering and construction group with global operations, has won an offshore rig refurbishment contract from the public sector Oil & Natural Gas Corporation (ONGC) valued at Rs 376 crore ($83 million).
Floating Systems Business Unit (FSBU), L&T’s newly formed division that promises to offer single point responsibility for execution of offshore drilling rigs and floating production units in both domestic and international markets, has been awarded this project from ONGC through a stiff international competitive bidding.
L&T’s all weather, ultra modern fabrication facilities at Sohar, Oman and Hazira and engineering offices of L&T - Valdel in Faridabad, Bangalore and Chennai will be supporting this venture, in addition to other L&T work centres. The rig on successful completion will be deployed to assist and augment offshore oil and gas drilling operations on ONGC’s offshore oil and gas.
L&T has been serving the upstream hydrocarbon sector since early 90’s and successfully executed several critical and prestigious offshore projects for ONGC and international clients but this order is a “first” from ONGC’s drilling services group which re-affirms L&T’s capabilities as single point solution provider for the offshore oil and gas industry.
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