Business Daily from THE HINDU group of publications
Wednesday, Jan 10, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Jan 10, 2007 ePaper |
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Corporate
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New Business
Our Bureau
New Delhi , Jan. 9 Construction and engineering firm Punj Lloyd Ltd said it has bagged a Rs 1,289.25-crore order from Oil & Natural Gas Corporation (ONGC) to build an offshore platform. The contract was secured along with wholly owned unit PT Sempec Indonesia, Punj Lloyd said in a statement. The company will build the platform at ONGC's Heera field and expects to complete the project within 16 months, it said. "This order is a major milestone for the company as it catapults Punj Lloyd into the exclusive club of EPC service providers for marine oil and gas production facilities. With this order, the bar has been raised for the company, as this is its single largest EPC project and a first in the offshore platform business," theChairman, Mr Atul Punj, said. The Heera field is located about 80 km west of Mumbai in the Arabian Sea.
Project details
The scope of work for the project includes surveys, design, transportation, installation, commissioning of four unmanned platforms, 70 km of submarine pipeline, laying of 25 km of composite cables, and modifications of seven existing platforms, it said.
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