India’s L&T wins $370m contract from Petroleum Development Oman

Business Monday 11/April/2016 18:58 PM
By: Times News Service
India’s L&T wins $370m contract from Petroleum Development Oman

Muscat: Larsen & Toubro Hydrocarbon Engineering, a wholly-owned subsidiary of India’s Larsen & Toubro Ltd. (L&T), has won two orders valued at $370 million from Petroleum Development Oman (PDO).
The new order wins include engineering, procurement and construction of the Saih Nihaydah Depletion Compression phase 2 and Kauther Depletion Compression phase 2 projects, Larsen & Toubro said in a filing on the Bombay Stock Exchange (BSE).
The Saih Nihaydah field is located in Central Oman. The field has been producing via the Saih Nihaydah gas plant, which was commissioned in 2005. The Kauther gas plant is located approximately 120 kilometres from Saih Rawl.
“These projects will be implemented to overcome pressure depletion and maintain potential in order to sustain production,” an L&T statement said.
L&T Hydrocarbon has already executed three projects for PDO—the LekhwairGas Field Development Project ($150 million), the SaihRawal Depletion Compression Project ($235 million) and the Yibal Third Stage Depletion Compression project ($240 million).
The majority state-owned PDO accounts for 70 per cent of the country’s crude oil production and nearly all of its natural gas supply.