L&T Hydrocarbon Engineering clinches Rs 1,267-crore offshore contract from ONGC

Engineering major Larsen & Toubro Hydrocarbon Engineering clinched a Rs 1,267-crore offshore contract from oil giant 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 (USD 194 million)," Larsen and Toubro said in a BSE filing.

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. The stock of Larsen and Toubro was trading 3.35 per cent lower at Rs 1,221.70 on the BSE.