Larsen & Toubro (L&T) has signed a $100 million contract with PETRONAS Carigali Myanmar (Hong Kong) Limited in Yangon, Myanmar.
The contract is for executing an offshore engineering, procurement, construction, installation and commissioning project.
"The order enlarges L&T’s footprint in the competitive hydrocarbon upstream market in South East Asia, and has already been included in L&T’s order inflow disclosure," the company said in a press statement.
The 19-month project includes supplying an offshore wellhead platform and subsea pipeline to be installed in a water depth of 108 meters. The scope also includes host tie-in works on an existing platform in the Yetagun complex. L&T’s facility in Kattupalli on the East Coast of India will undertake the fabrication work for the project.
The Yetagun North Field is operated by PETRONAS Carigali Myanmar (Hong Kong) Limited with PETRONAS Carigali Myanmar Inc, Myanma Oil and Gas Enterprise, PTTEP International Ltd and JX Nippon Oil Exploration (Myanmar) Ltd, as its partners.
L&T was trading at Rs 1582.60, down 0.76% on the Bombay Stock Exchange.