L&T wins Rs 5,000-10,000 crore ONGC offshore orders

The Story in Brief

Larsen & Toubro has secured offshore orders from Oil and Natural Gas Corporation worth between Rs 5,000 crore and Rs 10,000 crore, the company said in a stock exchange filing. L&T Energy Hydrocarbon Offshore will execute the work off India’s west coast.

The projects cover replacement of multiple subsea pipeline sections and associated modifications across ONGC’s offshore fields, along with engineering, procurement, construction, installation and commissioning of four well head platforms. L&T classified the contracts as “Major” under its internal system. The company said the orders reflect customer confidence in its offshore execution and engineering capabilities.

The Indian Opinion

The large order value may invite easy claims about a fresh offshore energy boom, while critics may dismiss it as just another corporate contract. Neither conclusion follows yet. The disclosed range is broad, and the filing does not give project margins, timelines or production gains. The useful test is whether L&T completes the pipeline and platform work safely, on schedule and within cost. Future disclosures on execution and profitability will show how much this order adds beyond the headline figure.

Source: economictimes.indiatimes.com

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