L&T wins rig refurbishment contract from ONGC
L&T has won an Offshore Rig Refurbishment Contract from Oil & Natural Gas Corporation (ONGC) valued at Rs376 crore (about US$ 83 million).
The company said its newly formed division, Floating Systems Business Unit (FSBU) has won the project from ONGC through a stiff international competitive bidding.
L&T’s ultra modern fabrication facilities at Sohar, Oman and Hazira, and engineering offices of L&T-Valdel in Faridabad, Bangalore and Chennai will be supporting this venture. The rig, once completed, will be deployed to assist and augment Offshore Oil & Gas drilling operations in ONGC’s Offshore Oil & Gas.
L&T has successfully executed several critical and prestigious Offshore Projects for ONGC and international clients but this order, the company said, is a first from ONGC’s Drilling Services Group.