Punj Lloyd bags Rs 1290 cr order

Punj Lloyd, an engineering construction company, along with its offshore engineering arm - PT Sempec Indonesia, a wholly owned subsidiary, has secured its single largest offshore platform project from Oil & Natural Gas Corporation (ONGC).

The order is valued at $290 million (Rs 1,290 crore) for the prestigious Heera redevelopment project on an EPC basis.

The Heera field is located about 80 km west of Mumbai in the Arabian Sea on the continental shelf.

The project scope includes surveys of pre-engineering and pre-construction, design, engineering procurement, fabrication, loadout, tiedown /sea fastening, transportation, installation, hook-up, testing, pre-commissioning and commissioning of four unmanned platforms.

The project also include the laying of 70 km of submarine pipeline (rigid & flexible), laying of 25 km of composite cables, modifications of seven existing platforms and installation of a new SBM in Mumbai High South.

The work is scheduled to be completed within 16 months.

Chairman Atul Punj said, "This order is a major milestone for the company as it catapults Punj Lloyd into the exclusive club of EPC service providers for marine oil & gas production facilities."

"With this order, the bar has been raised for the company, as this is its single largest EPC project and a first in the offshore platform business," he added.

With this, the order backlog for the group is Rs 11,201.74 crore. This is the total value of unexecuted orders as of September 30, 2006 and new orders received till date.