The Heera Panna block and Mumbai High South field are in the western offshore basin near Mumbai. (Photographer: Prashanth Vishwanathan/Bloomberg News)

L&T Hydrocarbon Engineering Wins Two Large Contracts From ONGC

L&T Hydrocarbon Engineering Pvt. Ltd. has won twin orders from Oil and Natural Gas Corporation Ltd. for work in the western offshore basin, parent Larsen & Toubro Ltd. said in a filing to the Bombay Stock Exchange on Thursday.

The contracts awarded are for the development of Heera Panna block and Mumbai High South field of western offshore basin near Mumbai, L&T said in a BSE filing.

The orders fall under the “large” category which ranges between Rs 2,500 crore and Rs 5,000 crore as per its classification of contracts.

The company said these contracts have been awarded through international competitive bidding on a lump sum turn key basis.

On Thursday, L&T shares fell 0.01 percent to Rs 1,550.70 apiece on the BSE while the benchmark Sensex shed 0.01 percent to end the day at 39,586.41 points.

Bloomberg Quint

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