L&T bags $250 mn order from Qatar oil firm

Monday, 19 February 2007, 06:00 Hrs
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Mumbai: Leading engineering and construction company Larsen & Toubro (L&T)bagged its largest overseas order yet as has it agreed to the $250 million contract from Maersk Oil Qatar for development of two new offshore platforms.

The development would be executed in 28 months and the breakthrough order from Maersk will increase L&T's share of the burgeoning Middle East hydrocarbon projects, the company stated.

"This is one of L&T's largest overseas orders that Maersk Oil Qatar is developing... under a production-sharing agreement with Qatar Petroleum," the company said in a statement here on Monday.

The order for Maersk will be executed by L&T in alliance with its project partners Acer Kvaerner and Seaway Heavy Lifting of the Netherlands.
Source: IANS
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