LTHE Bags $426M Contract for India's Bassein Development Project from ONGC
Larsen and Toubro Ltd. reported Wednesday that its wholly owned subsidiary L&T Hydrocarbon Engineering Ltd. (LTHE) bagged a $426.26 million (INR 27.15 billion) engineering, procurement, construction and installation (EPCI) contract for the Bassein Development Project in western offshore basin, India from the country's state-owned Oil and Natural Gas Corp. Ltd. (ONGC).
Workscope under the contract covers the provision of a new process platform having gas processing and compression facilities, one nine-slot well head platform, topside modification on existing platforms, associated subsea pipelines and one living quarter platform.
The project, part of ONGC's plan to extend the field life and increase recovery from the Bassein field, is targeted for completion in December 2017. Cumulative production from the field till 2027-28 is estimated at 690.68 billion cubic feet or Bcf (19.56 billion cubic meters or Bcm) of gas, 69.56 Bcf (1.97 Bcm) of condensate and 14.46 million barrels (1.83 million tons) of oil.
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