BackL&T unit-led consortium wins $1.6 billion Saudi Aramco contract
The EPC contract is for the development of the second phase of Hasbah Offshore Gas field situated off the coast of Saudi Arabia
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Mumbai: Larsen and Toubro Ltd (L&T) on Thursday said its subsidiary L&T Hydrocarbon Engineering Ltd, as part of a consortium, had won a $1.6 billion contract from Saudi Aramco, the world’s largest oil company.
L&T Hydrocarbon Engineering bid for the contract with EMAS Chiyoda Subsea (ECS), a joint venture between Ezra Holdings Ltd, a Singapore-based provider of offshore marine services, and Japanese engineering company Chiyoda Corp.
The engineering, procurement, and construction (EPC) contract is for the development of the second phase of Hasbah Offshore Gas field situated off the coast of Saudi Arabia, L&T said in a statement. L&T Hydrocarbon’s share in the contract is about 60%, the statement said.
The consortium will be carrying out EPC and installation of the offshore plant, which is scheduled to be completed over a period of three-and-a-half years and will serve Saudi Aramco’s strategy of supplying an additional 2,500 mmscfd (million standard cubic feet of gas per day) of clean natural gas through the Fadhili gas plant to meet Saudi Arabia’s growing domestic energy demand, L&T said.
Under a six-year agreement with consortium partner Emas Chiyoda Subsea, L&T has the option of extending the agreement by another six years, said Subramanian Sarma, managing director and chief executive, L&T Hydrocarbon.
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