Engineering major Larsen & Toubro has bagged an order worth around Rs 1,267 crore for an offshore job from state-run ONGC.

The order, bagged by the engineering major’s subsidiary L&T Hydrocarbon Engineering, is for the balance work for Pipeline Replacement Project-4 of ONGC.

The project is a part of ONGC’s strategy to replace some of its well fluid, gas lift and water injection pipelines along with brownfield modification works on existing platforms in its Mumbai High, Neelam, Heera and Bassein and satellite fields which are situated in the western offshore field in the Arabian Sea on the continental shelf of western India.

On Saturday, the $17 billion company cut its order inflow guidance for 2017-18, compelled by the slowdown in projects in the domestic and overseas market and the lack of revival in investment sentiment. The company, pegged as a proxy for Indian infrastructure and industrial growth, said that its order inflow in the year FY18 may be flat compared to the previous year, or marginally better, as against an overall growth guidance of 12-14% for new orders given at the beginning of the year.
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