Diversified group Punj Lloyd today said it expects to garner work-orders to the tune of Rs 3,000 crore from the oil and gas sector in both domestic and overseas markets in the next financial year.
"We expect an over Rs 3,000 crore of work-orders from the oil and gas sectors in FY11 from both Indian and international markets. Of this, we expect over 50 per cent from state-owned ONGC," Punj Lloyd's Executive President (Technical) H K Kaul, told PTI here.
"The oil and gas industry has been instrumental in fuelling the rapid growth of the Indian economy. There will be a basket of work-orders in the coming days," he said.
The company, which is currently working on $125 million worth of projects in Thailand, is expecting more than 200 kilometre of pipe-laying work from ONGC in FY11.
As on December 31, 2009, Punj Lloyd had an order backlog of Rs 23,431 crore.
The company today also launched a new vessel called Kuber which would be capable of laying pipelines at a water-depth of 150-metre.
Punj Lloyd is a globally-diversified conglomerate providing engineering, procurement and construction services in oil & gas, petrochemical and infrastructure sectors.
