L&T Hydrocarbon Engineering bags Rs 1,150 crore contract from ONGC

The project is located in the south-western part of Tapti - Daman block in the Mumbai offshore

L&T Hydrocarbon Engineering has secured a Rs 1,150-crore contract from ONGC pertaining to a Daman Development project.

"L&T Hydrocarbon Engineering, a wholly-owned subsidiary of Larsen and Toubro, has bagged an offshore contract for the Transportation and Installation - Daman Development project from Oil and Natural Gas Corporation (ONGC) valued at approximately Rs 1,150 crore (USD 177 million)," Larsen and Toubro stated in a BSE filing today.

The project, part of ONGC's strategy to extract gas from the Daman field, is located in the south-western part of Tapti - Daman block in the Mumbai offshore.

The contract covers engineering, procurement, construction, installation and commissioning of the project.

Stock of Larsen and Toubro was trading 0.55 per cent up at Rs 1,149.10 on the BSE.