L&T Hydrocarbon bags Rs. 1,267-cr contract from ONGC.

L&T Hydrocarbon Engineering has secured a Rs. 1,267-crore offshore contract from ONGC.

“L&T Hydrocarbon Engineering, a wholly-owned subsidiary of Larsen and Toubro, has bagged an offshore contract... from Oil and Natural Gas Corporation (ONGC) valued at approximately Rs. 1,267 crore ($194 million),” Larsen and Toubro said in a BSE filing today.

The project is part of ONGC’s strategy to replace some of its well fluid, gas lift and water injection pipelines along with brownfield modification works.

L&T shares were trading 3.35 per cent lower at Rs. 1,221.70 on the BSE.

HBL