Daily Newsletter

21 November 2023

Daily Newsletter

21 November 2023

LTEH wins new offshore project in Middle East

The LTEH business segment of L&T is currently working on several domestic and international offshore projects.

November 21 2023

India-based infrastructure company Larsen & Toubro's (L&T) business segment, L&T Energy Hydrocarbon (LTEH), has secured a letter of intent for a 'Mega' offshore project from an unnamed major client in the Middle East.

The scope of this project comprises the engineering, procurement, construction (EPC), and installation of a new large offshore platform, as well as brownfield work of integration with existing infrastructure.

LTEH senior executive vice-president and director Subramanian Sarma said: “This mega order from a new customer reaffirms global acknowledgement of our capabilities and marks a key milestone for our offshore business.

“Our focus continues to be on enhancing competencies and leveraging opportunities arising from our core markets.”

The company did not disclose the specific value of these projects; however, it has been defined as Mega by L&T. This categorisation is classified by the business as between Rs100bn and Rs150bn ($1.2bn-$1.8bn).

The LTEH business segment of L&T is currently working on several offshore projects both domestically and internationally.

Licenced to operate under various offshore groups, LTEH provides both local and foreign clients with complete design-to-build solutions in the hydrocarbon industry.

Earlier this month, LTEH obtained a letter of intent for an ‘Ultra-Mega’ onshore project from another unnamed major client in the Middle East.

South-East Asia Construction Market Dynamics

Several companies are accelerating toward the net-zero emissions target to decarbonize the energy sector. The power industry is investing heavily in AI and ML to deliver the necessary solutions, such as sensor-connected power plants and smart grids to balance electricity supply and demand. AI is driving measurable improvements in renewable energy forecasting, grid operations and optimization, the coordination of distributed energy assets, and demand-side management. It will play a major role in enhancing asset optimization and customer segmentation.

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