Punj Lloyd bags offshore contract from GSPC
Punj Lloyd Group has announced receiving a letter of award (LOA) from Gujarat State Petroleum Corporation (GSPC), one of the fastest-growing state-owned companies, for a submarine pipeline project in an exploration block on the east coast of India. The contract, worth Rs 826 crore, is scheduled to be completed by April 2013.
The scope of work for the lumpsum turnkey engineering, procurement and construction contract includes a 24.5-km-long pipeline from Process cum Living Quarter Platform (PLQP) to Onshore Gas Terminal (OGT), a 15-km-long effluent disposal pipeline and 24.5 km optical fibre cabling. It also includes Sub Surface Isolation Valve (SSIV), Station Isolation Valve (SIV), Insulation Joint (IJ) with Hydraulic Power Unit (HPU) and Umbilical for 20” multi-phase pipeline. Laying the under sea bed pipelines would also involve trenching/ dredging, burial, backfilling and reinstatement.
Speaking about the contract, P.K Gupta, Director, Punj Lloyd Ltd., said, “The government’s initiative to increase exploration activity in the oil and gas space has opened a plethora of opportunities for the Indian infrastructure sector. We are privileged to be a part of the drive, which is fuelling the growth of the upstream sector in the country.”
“With our significant experience in every aspect of the energy chain and our large fleet of offshore installation spreads including installation pipelay barges Kuber and Mahesh we are confident of combating the challenging weather conditions and high water currents to successfully execute this project on time,” he added. From Libya to Kazakhstan and Turkey to Indonesia, Punj Lloyd has laid more than 10,000 km of onshore and offshore pipelines for the world’s major oil & gas conglomerates. Punj Lloyd today is among the few global players that can ensure seamless execution of projects amidst a multitude of challenging parameters. With this latest contract, the order backlog for the Punj Lloyd Group on a consolidated basis has gone up to Rs 25, 199. This is the total value of unexecuted orders as on March 31, 2011, and new orders received after that day.