- Larsen & Toubro's (L&T) offshore hydrocarbon division has won an order valued at more than ₹15,000 crore from ADNOC Offshore for a large-scale project in West Asia.
- L&T shares touched a day high of ₹4,042.40 on the NSE after the contract win.
- The project involves building and upgrading offshore facilities, with L&T leading a consortium and covering the full offshore construction scope from engineering through commissioning.
- At 12:22 pm, L&T shares were trading at ₹4,036.00 on the NSE, up 0.27% for the day; the stock has fallen 1.28% over six months and 2.54% year to date.
Larsen & Toubro (L&T) has secured an ultra-mega order worth over ₹15,000 crore from ADNOC Offshore, marking a significant achievement for the company in the UAE's energy sector. The announcement was made on August 4, leading to a rise in L&T's shares, which peaked at ₹4,042.40 on the NSE.1
The project will be executed by L&T Energy Hydrocarbon Offshore (LTEH Offshore), which will serve as the lead partner in a consortium arrangement. The scope of work includes engineering, procurement, construction, installation, and commissioning of several offshore facilities, along with upgrades to existing infrastructure. A large portion of the fabrication will occur at L&T's own yards, leveraging its extensive experience in offshore projects.
S N Subrahmanyan, chairman and managing director of L&T, stated, “This prestigious award from ADNOC reflects the trust our clients place in L&T's engineering excellence, project execution capabilities and unwavering commitment to delivering complex energy infrastructure projects safely and on schedule.” He emphasized L&T's long-standing partnership in the region and its commitment to supporting the UAE's energy ambitions through innovative and sustainable offshore solutions.
This contract is part of a series of recent successes for L&T, which also includes a ₹10,000 crore to ₹15,000 crore order from NTPC for a thermal power project and a cooperation agreement with European grid operator TenneT for an offshore wind program, both valued above ₹15,000 crore.
L&T's offshore hydrocarbon division has a rich history of delivering projects across various regions, including fixed platforms, subsea pipelines, and decommissioning work, showcasing its robust capabilities in the energy sector.
“L&T will lead a consortium covering the full offshore construction scope, from engineering and procurement through installation and commissioning, for the project. L&T shares touched a day high of ₹4,042.40 on the NSE after the announcement, though the stock remains down 1.28% over six months.”
Swarajya
Equitypandit
