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.