L&T to refurbish ONGC's offshore jack-up rig `Sagar Uday'
14 Jul 2010
Engineering and construction major Larsen and Toubro (L&T) has won a Rs376-crore ($83 million) contract for refurbishing an offshore rig belonging to the Oil and Natural Gas Corporation (ONGC).
L&T said its newly formed Floating Systems Business Unit (FSBU) won the ONGC project contract through stiff international competitive bidding.
FSBU offers single point responsibility for execution of offshore drilling rigs and floating production units in both the domestic and international markets, L&T said.
L&T will use its ultra modern fabrication facilities at Sohar, Oman and Hazira and engineering offices of L&T-Valdel in Faridabad, Bangalore and Chennai to support this venture, in addition to its own work centres.
On successful completion of the refurbishment, the rig will be deployed to assist and augment offshore oil and gas drilling operations by ONGC.
L&T has executed several offshore projects in the upstream hydrocarbon sector since early 90s, both for domestic and international clients.
The current order, however, is a "first" from ONGC's drilling services group, L&T said in its release.
L&T has thus emerged as a reliable single source to execute critical projects for oil companies and hydrocarbon development programmes worldwide.