Ultra-Mega Order Above Rs 15,000 Crore: This Large-Cap EPC Stock Secures ADNOC Offshore Contract for Major Middle East Project

On Tuesday, Indian equity benchmark indices traded lower, with the benchmark Nifty 50 index falling 191.45 points, or 0.77 per cent, to 24,582.85. Amid the weak market sentiment, Larsen & Toubro (L&T) share price fell 0.10 per cent to Rs 4,020.90 after the company announced that its Energy Hydrocarbon Offshore business has secured an ultra-mega order from ADNOC Offshore for a major offshore development project in the Middle East.

L&T Secures Ultra-Mega Order from ADNOC Offshore

L&T's Energy Hydrocarbon Offshore (LTEH Offshore) has won the contract through a consortium arrangement, with the company acting as the lead partner. The project involves the development of multiple offshore facilities for ADNOC Offshore.

As the lead consortium partner, LTEH Offshore will execute the major portion of the project, which includes engineering, procurement, construction, installation and commissioning (EPCIC) of offshore facilities. The scope of work also includes the upgrade of existing offshore infrastructure, making it a comprehensive offshore development project.

Major Fabrication Work to be Executed in India

A significant portion of the fabrication work for the project will be carried out at L&T's fabrication yards in India. The company said it will leverage its integrated EPCIC capabilities and experience in delivering large and complex offshore projects across the Middle East.

Executing fabrication work at its domestic facilities is expected to support efficient project execution while utilising the company's existing manufacturing infrastructure.

Strengthens L&T's Offshore Business

L&T said its Energy Hydrocarbon Offshore business is a leading EPCIC solutions provider for the offshore oil and gas industry. The business has in-house engineering capabilities, advanced fabrication facilities and a dedicated fleet of marine vessels.

Over the past four decades, the business has executed a wide range of offshore projects, including fixed platforms, subsea pipelines, subsea structures, brownfield upgrades and decommissioning projects, establishing a strong presence in both shallow-water and deep-water developments across multiple geographies.
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Management Commentary

Commenting on the order win, S N Subrahmanyan, Chairman & Managing Director of Larsen & Toubro Limited, said: "This prestigious award from ADNOC reflects the trust our clients place in L&T's engineering excellence, project execution capabilities and unwavering commitment to delivering complex energy infrastructure projects safely and on schedule. As a long-standing partner in the region, we remain committed to supporting the UAE's energy ambitions through innovative, sustainable and world-class offshore solutions."

About Larsen & Toubro

Larsen & Toubro Ltd is a USD 32 billion Indian multinational engaged in EPC projects, high-tech manufacturing, products and services across multiple industries and geographies. The company has been operating for more than eight decades and focuses on engineering, technology and infrastructure projects worldwide.

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Disclaimer: The article is for informational purposes only and not investment advice.