Oil And Natural Gas Corporation is planning development of the Vashishta and S1 Deepwater Fields.
Promoter: Oil And Natural Gas Corporation
Location: East Coast of India
Status: Planning Stage
[sociallocker]Oil And Natural Gas Corporation is planning development of the Vashishta and S1 Deepwater Fields situated off the East Coast of India. L&T Hydrocarbon Engineering (LTHE), a fully owned subsidiary of Larsen And Turbo, in consortium with McDermott has bagged the offshore contract valued at Rs. 24.5 billion for the development of the fields. LTHE’s share in the consortium is Rs. 6.4 billion. The contract encompasses complete Engineering, Procurement, Construction & Installation (EPCI) work of major subsea facilities in ONGC’s deepwater fields. The full scope of the contract includes the supply & installation of subsea structures at seabed in water depths ranging from 200 mtrs to 700 mtrs & subsea pipelines interconnecting subsea wells to ONGC’s onshore facilities at Odalarevu in Andhra Pradesh. The project is part of ONGC’s strategy to monetize its deepwater oil & gas fields to the East Coast. Upon final commissioning, the facilities will add about 4.55 MMSCM of hydrocarbon gas/ day to India’s domestic gas production. The consortium developed a cost-effective solution which included utilization of LTHE’s strategically located Kattupalli facility in Chennai for fabrication & setting up of a local spoolbase in India & schedule improvements using a combination of reel lay & S lay methods for laying of subsea pipelines by McDermott.[/sociallocker]