Contracts Awarded | August 2013
L&T bags Rs 1,500 crore order from Oman
Larsen and Toubro (L&T) has won an engineering, procurement and construction (EPC) contract valued at Rs 1,500 crore from Petroleum Development Oman LLC (PDO). The order is for the Yibal third-stage depletion compression project at the Yibal-Natih gas reservoir in Oman, which has recoverable reserves estimated at 90 per cent. The project is scheduled to be completed in 39 months.
PDO, which accounts for more than 70 per cent of the country's crude-oil production and nearly all of its natural gas supply, is owned by the Oman government (which has 60 per cent interest), Royal Dutch Shell (34 per cent), Total (4 per cent) and Partex (2 per cent). L&T, which is currently executing two projects the Lekhwair gas field development project and the Saih Rawl depletion compression project for PDO-ùsaid in a filing that with significant potential for natural gas market in the Gulf, this order was strategic and reflected its capability to execute such projects in a competitive environment.