L&T Shares Gained More Than 1 Percent In Morning As Its Subsidiary

L&T shares gained more than 1 percent in morning as its subsidiary L&T Hydrocarbon Engineering has signed a major field development EPC contract with Al Dhafra Petroleum Operations Company Limited, Abu Dhabi, UAE, with a value in excess of Rs 2,200 crore.

Al Dhafra Petroleum is a joint venture between ADNOC and Korea National Oil Corporation and GS Energy, which is represented by Korean Abu Dhabi Oil Consortium.

The scope of the contract includes engineering, procurement, construction & commissioning of flow lines, gathering facilities & pipelines to transfer crude oil & gas from Haliba fields to processing facility at Asab and installation of 132 kV and 33 kV overhead electrical transmission lines to supply power.

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