Larsen & Toubro (L&T), one of India’s leading engineering and construction conglomerates, has announced a significant new order win from the Oil & Natural Gas Corporation (ONGC). The L&T Energy Hydrocarbon (LTEH) vertical has been awarded a contract for the eighth phase of ONGC’s Pipeline Replacement Project (PRP-VIII Group B) off India’s west coast.
The order, valued between ₹1,000 to ₹2,500 crore as per L&T’s project classification, involves the engineering, procurement, construction, installation & commissioning (EPCIC) of 129-km subsea pipelines. Additionally, the project scope includes associated modification works across ONGC’s west coast offshore fields.
Mr. Subramanian Sarma, Whole-time Director & President – Energy at L&T, expressed his satisfaction with the order, stating, “This order reflects ONGC’s continued confidence in L&T, and this emanates from our track record of successfully delivering complex offshore projects. This order further demonstrates L&T’s unwavering commitment to India’s energy requirement.”
The latest contract reinforces L&T’s position as a key player in India’s oil and gas sector, particularly in offshore projects. With over three decades of experience, LTEH has established itself as a benchmark setter in project management, corporate governance, quality, health safety environment (HSE), and operational excellence across the hydrocarbon sector.
LTEH’s organizational structure, comprising Offshore, Onshore EPC, Modular Fabrication, Advanced Value Engineering & Technology (AdVENT), and Offshore Wind Farm Business Groups, allows it to offer integrated design-to-build solutions to both domestic and international customers in the hydrocarbon sector.
This project is expected to play a crucial role in maintaining and upgrading ONGC’s offshore infrastructure, ensuring the continued efficiency and safety of its operations in the Arabian Sea. The replacement of aging pipelines is vital for preventing potential leaks and maintaining the integrity of ONGC’s offshore oil and gas transportation network.
The order comes at a time when India is focusing on enhancing its domestic oil and gas production to reduce dependency on imports. Projects like these are essential for maintaining and improving the country’s offshore oil and gas infrastructure, which is critical to India’s energy security.
For L&T, this order adds to its impressive portfolio in the energy sector and underscores its capabilities in executing complex offshore projects. The company, with its USD 27 billion enterprise value, continues to strengthen its position as a multinational conglomerate with interests spanning EPC Projects, Hi-Tech Manufacturing, and Services across multiple geographies.
L&T’s stock is expected to react positively to this news when the markets open. The company’s shares are listed on both the BSE (Stock Code: 500510) and the National Stock Exchange of India (Stock Code: LT).