L&T signs six-year EPC framework agreement with Petroleum Development Oman
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Larsen & Toubro (L&T) on Friday said it has secured a six-year engineering, procurement and construction (EPC) framework agreement with Petroleum Development Oman (PDO).
Under the agreement, L&T Energy Hydrocarbon Onshore has been selected as one of four EPC contractors eligible to participate in Petroleum Development Oman's upcoming front-end engineering design (FEED) and EPC projects for future energy developments in the country, the company said in a regulatory filing.
The framework agreement enables L&T to bid for a pipeline of projects that PDO plans to execute over the next six years. The company said it will leverage its engineering expertise and project execution capabilities to support the Omani oil and gas producer's future requirements.
L&T also reaffirmed its commitment to supporting In-Country Value (ICV) development in Oman by creating opportunities for local suppliers, subcontractors and service providers, while contributing to the development of local capabilities.
L&T Energy Hydrocarbon Onshore is the conglomerate's EPC arm for upstream, midstream and downstream hydrocarbon projects. The business has executed refinery expansions, petrochemical complexes, gas processing plants, LNG terminals, fertiliser plants and cross-country pipeline projects across international markets.
Commenting on the development, E.S. Sathyanarayanan, Senior Vice President and Head of L&T Energy Hydrocarbon Onshore, said, "This framework agreement marks an important milestone in our long-standing association with Petroleum Development Oman. We look forward to supporting PDO's development plans through safe, innovative and sustainable project delivery, while contributing to Oman's long-term energy and economic growth objectives."
The agreement further strengthens L&T's order pipeline in the hydrocarbon segment and reinforces its long-standing presence in the Gulf region, where the company has executed several large-scale energy and infrastructure projects. The framework arrangement is also expected to position L&T to benefit from upcoming investments in Oman's oil and gas sector as the country continues to expand and modernise its energy infrastructure.
Larsen & Toubro is a $30-billion Indian multinational engaged in engineering, procurement and construction (EPC), high-tech manufacturing and services. The company operates across infrastructure, energy, hydrocarbons, power, defence, information technology and financial services, with a presence in more than 50 countries. Its hydrocarbon business has executed several complex onshore and offshore projects for global energy companies across the Middle East, Asia and Africa.