Engineering and construction conglomerate Larsen & Toubro (L&T) Monday said it has won an offshore contract worth Rs.894 crore from state-run Oil & Natural Gas Corporation (ONGC) for additional development of the Vasai East project.
L&T Hydrocarbon Engineering (LTHE) has bagged the complete turnkey contract from ONGC to improve the recovery factor of the Vasai East field, L&T said in a release here.
"The contract involves engineering, procurement, construction and installation of two wellhead platforms, sub-sea pipelines and modification of existing facilities in Heera-Panna-Bassein block of Mumbai offshore," L&T said.
"The project, part of ONGC's strategy to improve recovery factor of Vasai East field, where production started in 2008, is scheduled to be completed by April 2016," it added.
The Rs.2,500 crore project will realise incremental oil production of 1.83 million tonnes and incremental gas production of 1.971 billion cubic metres by 2030.
--Indo-Asian News Service
bc/vd
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app