Larsen and Toubro’s L&T Energy Hydrocarbon Offshore has bagged an ‘Ultra Mega order’ worth over Rs. 15,000 crores from a client in the Middle East. The contract is for the development of multiple offshore facilities, the company said.
Larsen and Toubro’s L&T Energy Hydrocarbon Offshore (LTEH Offshore) bagged an ‘Ultra Mega order’ worth over Rs.15000 crores from a “prestigious client” in the Middle East for the development of multiple offshore facilities, the company said in an exchange filing on Monday.
L&T Energy Hydrocarbon Offshore (LTEH Offshore) is a specialized vertical of Larsen & Toubro providing end-to-end EPCIC (Engineering, Procurement, Construction, Installation, and Commissioning) solutions for global oil, gas, and energy transition projects spanning shallow and deep waters.
Project Significance and Company Expertise
“The award reinforces LTEH Offshore’s long-standing presence in the Middle East and reflects the confidence placed by customers in its ability to deliver large and complex offshore projects safely, on schedule and to the highest quality standards,” Larsen and Toubro said in its press release.
T Madhava Das, Whole-time Director, Senior Executive Vice President & Head – Energy Hydrocarbon Division, Larsen & Toubro, said, “The order represents one of the most significant offshore developments currently underway in the Middle East and underscores the growing investments being made to meet future energy demand. The scale and complexity of the project call for deep engineering expertise, integrated project execution capabilities and flawless coordination across multiple workstreams. We are proud to contribute to the development of critical energy infrastructure that will support the region’s long-term growth ambitions”.
The company added that LTEH Offshore has delivered some of the region’s most challenging offshore developments, backed by integrated in-house engineering, project management, procurement, fabrication and installation capabilities and a dedicated fleet of vessels, Over the past four decades, the business has successfully executed a wide range of offshore projects, including fixed platforms, subsea pipelines and structures, brownfield upgrades and modifications, deep water subsea structures and pipelines, and decommissioning programmes across global markets.
“With multiple offshore facilities, subsea infrastructure and substantial fabrication requirements, this project exemplifies the scale and complexity of offshore developments that LTEH Offshore is uniquely positioned to deliver,” Parthasarathi Chatterjee, Senior Vice President & Head – L&T Energy Hydrocarbon Offshore, said. He added further that the company’s integrated EPCIC approach, supported by world-class engineering, fabrication and marine capabilities, enables us to execute such projects with certainty, efficiency and a strong focus on safety and quality.
Market Reaction
As of 01:42 PM, shares of Larsen and Toubro traded marginally higher at Rs. 4,059 on the National Stock Exchange. (ANI)
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