L&T bags Rs 376 cr ONGC contract for offshore business | business | Hindustan Times
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L&T bags Rs 376 cr ONGC contract for offshore business

Engineering and Construction conglomerate Larsen and Toubro today said it has bagged a Rs 376-crore contract from Oil and Natural Gas Corporation (ONGC) for offshore business.

business Updated: Jul 14, 2010 17:20 IST

Engineering and Construction conglomerate Larsen and Toubro on Wednesday said it has bagged a Rs 376-crore contract from Oil and Natural Gas Corporation (ONGC) for offshore business.

"Larsen and Toubro (L&T) has won an important offshore rig refurbishment contract from ONGC... Floating Systems Business Unit (FSBU), L&T's newly formed division, has been awarded this project from ONGC through a stiff international competitive bidding," the company said in a statement.

The rig on completion will be deployed to assist and augment offshore oil and gas drilling operations of ONGC.

L&T has its fabrication facilities in Sohar, Oman and Hazira and engineering offices in Faridabad, Bangalore and Chennai, which will be supporting the venture, it said.

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