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Larsen & Toubro today said it has got a Rs 1,500 crore engineering, procurement and construction (EPC) order from Petroleum Development Oman LLC (PDO).
"The EPC order is for the Yibal third stage depletion compression (Y3DC) project at the Yibal-Natih gas reservoir in Oman. The project is scheduled to be completed in 39 months," L&T said in a BSE filing.
Yibal-Natih is a sweet gas reservoir with recoverable reserves estimated at 90%. It has been in production since 1972 and undergone a series of expansions to accommodate increasing demand for gas. The Yibal third stage facility will be installed to boost reservoir pressure, L&T said.
"With significant growth potential for natural gas in the Gulf, this order is strategic for L&T and reflects its capability to execute such projects in an extremely competitive environment," L&T said.
L&T is doing two projects for PDO, a leading exploration and production company in the Sultanate, which accounts for 70% of the country's crude oil production and nearly all of its natural gas supply.
PDO is 60% owned by Oman government. Royal Dutch Shell has 34% stake among others.
