Riyadh: Indias largest infrastructure firm LT has secured contracts exceeding $4 billion from Saudi Aramco for the expansion of its gas projects.
The order, valued at Rs 35,000 crore, pertains to Aramcos gas compression systems. Saudi Aramco is undertaking a $110-billion Jafurah gas project in the eastern province.
This LT contract is part of Saudi Aramcos $25 billion in engineering, procurement, and construction (EPC) contracts, awarded on June 30 for two gas expansion initiatives, according to the Middle East business publication meed.com.
I would like to clarify that we have already received these orders and were announced previously. The recent event was just a formal commemoration of those awards. We continue to see a strong pipeline of prospects, and with our well-established presence, we are hopeful that we will secure further awards in the near future, confirmed Subramanian Sarma, Whole-time Director President (Energy), LT, according to Moneycontrol.
According to the MEED report, LT has secured two packages from Saudi Aramco. Package 1, valued at $2.9 billion, is for a gas processing plant and main process units, while Package 3, worth $1 billion, is for gas compression units. Both orders have been awarded to Larsen Toubros energy hydrocarbon division.
The EPC packages for the Jafurah second expansion phase, as reported by MEED, also include a $2.4 billion order to South Koreas Hyundai Engineering and two orders totalling $3.2 billion to Spains Tecnicas Reunidas.
Last September, Larsen Toubro secured two EPC orders worth nearly $4 billion from Saudi Aramco as part of the expansion of the Jafurah gas project.
The Jafurah basin in Saudi Arabia is home to the largest liquid-rich shale gas field in the Middle East, with MEED estimating gas reserves at around 200 trillion cubic feet, spread over 17,000 square kilometers.
