MUMBAI (Commodity Online): Larsen & Toubro (L&T) (BOM:500510) has secured a massive order from the public sector oil explorer, Oil & Natural Gas Corporation (ONGC) order worth Rs.1013 crore to set up four well platforms off the Mumbai High fields.

In a statement filed to the Bombay Stock Exchange (BSE) the company had mentioned that under the turnkey project, L&T will be working on four well platforms for Phase II of Mumbai High North (MHN) re-development project. Each of the four platforms will have twelve slots with remote well testing and monitoring facilities from NQ/MHN process complex.

L&T stocks rose on the BSE at Rs.1621.5 up 1.6% from its previous closing. The stock has been on the rise during past three trading sessions by gaining, 3.5%. In past one month, the company stocks surged close to 10% from Rs.1475.30 on February 19 to the recent levels.



L&T will have single point responsibility for the complete engineering, procurement, fabrication & installation of these platforms with total in-house capabilities. This will involve 23000 tonnes of Jackets and Topsides equipped with wind turbine system and hybrid power system in addition to many state of the art facilities, the compay said in a statement released today.

L&T had recently secured a Rs.2035 crore-worth project from ONGC Mangalore Petrochemicals Ltd (OMPL) for setting up an Aromatics Complex at the Mangalore SEZ.

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