L&T Wins ₹2,500–5,000 Cr Offshore ONGC Order

: L&T’s Hydrocarbon vertical has secured a ‘Large’ offshore order from Oil & Natural Gas Corporation (ONGC) for the Additional Development of the Ratna-I and NLM-14 projects along India’s west coast. The contract falls in L&T’s ‘Large’ category, indicating an estimated value of ₹2,500 crore to ₹5,000 crore. The EPCIC scope covers engineering, procurement, construction, installation and commissioning of three new well-head platforms and one new riser platform. The project also includes laying multiple sections of subsea pipelines and cables, along with brownfield modifications to existing offshore installations. The order will be executed by L&T Energy Hydrocarbon Offshore, strengthening L&T’s upstream oil and gas infrastructure portfolio. The contract adds significant order-book visibility and supports ONGC’s efforts to increase domestic crude oil and natural gas production. Stock Commentary – L&T L&T – HIGHLY POSITIVE (9/10): The ₹2,500–5,000 crore ONGC offshore order materially strengthens L&T’s hydrocarbon order book and provides strong revenue visibility. The large EPCIC scope also reinforces L&T’s position in India’s offshore oil & gas infrastructure sector.