Larsen & Toubro (L&T) has won over 57 contracts so far in 2022 as it continues to strengthen its presence in the oil and gas EPC sector, Construction Week reported.
Last month, the company reported “better-than-expected” second-quarter profit, on the back of a surge in order inflows. The company’s profit grew by 22.5% to $269.35 million in just three months, L&T said in an exchange filing.
Earlier this year, oil giant Saudi Aramco signed EPC agreements with L&T for various onshore construction projects including enhancing the LPG Piping Network at Ju’aymah NGL, Jubail Industrial gas network, and Ethane Upgradation Facility.
L&T also secured a contract extension with Kuwait Oil Co in August 2022 for the construction of a gas pipeline valued around $450 million. In the Middle East region, L&T said it aims to focus on building partnerships, developing markets for adjacencies in business offerings and nurturing new businesses like asset management and offshore windfarms.
L&T’s hydrocarbon division is executing several domestic and international oil and gas projects and is committed to building its regional presence in geographies that it operates by growing local skills and talent, improving procurement from local vendors, and engaging commercially with local contractors.
L&T was named one of the top contractors in our top 25 EPC list that was recently published. See the full list below:
