L&T Hydrocarbon Engineering bags Rs 1,483 crore order from ONGC

L&T Hydrocarbon Engineering has secured a Rs 1,483 crore offshore contract from ONGC.

"L&T Hydrocarbon Engineering, a wholly-owned subsidiary of Larsen and Toubro, has signed an offshore contract for the 'Bassein Development 3 Well Platform and Pipeline Project' with Oil and Natural Gas Corporation (ONGC) valued at approximately Rs 1,483 crore (USD 229 million)," Larsen and Toubro stated in a BSE filing today.

The project, part of ONGC's strategy to jointly develop three small and marginal fields/blocks under 'Bassein Development 3 Well Platform and Pipeline Project', is scheduled to be completed by May 2019.

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

Stock of Larsen and Toubro was trading 0.39 per cent up at Rs 1,320.50 on the BSE.