Larsen & Toubro
A man waits at a bus-stop with an advertisement of Larsen & Toubro outside the company's manufacturing unit in Mumbai January 22, 2014.

L&T Hydrocarbon Engineering Limited (LTHE), a wholly-owned subsidiary of Larsen & Toubro, has bagged an offshore contract for the Bassein Development Project from the Oil & Natural Gas Corporation (ONGC) valued at ₹2715 crores.

The Contract, won against international competitive bidding, encompasses total 'EPCI' – Engineering, Procurement, Construction and Installation for the project.

The scope includes one 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 in the Bassein Field in western offshore basin of India.

The project, part of ONGC's strategy to enhance the field life and increase recovery of Bassein Field, is scheduled to be completed by December 2017. The cumulative production from the field till 2027-28 is pegged at 19.56 BCM of gas, 1.97 million cubic meter of condensate and 1.83 MMT of oil.

L&T has been serving the upstream hydrocarbon sector since early the '90s. This contract reiterates the long term association of ONGC with L&T in the development of offshore fields in India. The Company's offshore track record includes successful completion of several challenging projects for domestic and international clients.

LTHE provides complete 'EPCI' solutions for the offshore oil & gas industry combining customized engineering, procurement, fast-track project management and world-class fabrication and sea installation capabilities meeting stringent timelines, conforming to international safety standards.