L&T Wins Offshore Rig Refurbishment Contract

L&T has won an important Offshore Rig Refurbishment Contract from Oil & Natural Gas Corporation (ONGC) valued at Rs.376 crores (about US $83 million).

Floating Systems Business Unit (FSBU) has been awarded this project from ONGC through a stiff International Competitive Bidding.

L&T's all weather; ultra modern fabrication facilities at Sohar, Oman and Hazira and engineering offices of L&T-Valdel in Faridabad, Bangalore and Chennai will be supporting this venture, in addition to other L&T work centers. The rig on successful completion will be deployed to assist and augment Offshore Oil & Gas drilling operations in ONGC's Offshore Oil & Gas Fields.

This order is a 'first' from ONGC's Drilling Services Group which reaffirms L&T's capabilities as single point solution provider for the Offshore Oil & Gas Industry.

This contract further affirms L&T's capabilities as a reliable single source to execute critical projects for oil companies and hydrocarbon development programs worldwide.