Essar Projects completes work on ONGC's offshore unit
New Delhi: Essar Projects Ltd on Thursday said it has completed work on state-owned Oil and Natural Gas Corp's (ONGC) Rs 1,064 crore project to develop D1 fields, 200-km off the Mumbai coast.
"The largest offshore project executed by Essar Projects envisaged installation of three offshore platforms and laying of subsea pipelines to connect the three platforms to the floating production, storage and offloading (FPSO)," the company said in a statement here.
The project will help ONGC scale up D1 fild production to 35,000 barrels per day, Essar said but did not give the current output.
"Essar Projects Ltd completed the project, awarded in May 2010 to the Essar Offshore Subsea Ltd-led consortium on a fast-track basis within 24 months," the statement said.
The scope of the work included engineering, procurement, construction, installation and commissioning of the three unmanned four-legged fixed jacket platforms in water depths of about 90 metres.
Alwyn Bowden, President & CEO of Essar Projects said, "Executing the prestigious ONGC project on schedule was a strategic objective for Essar Projects Ltd. The company has demonstrated its ability to conclude such a challenging project on time and is poised to execute projects of similar kinds worldwide."
D1B platform will receive the 35,000 bpd of crude oil produced by the D1, D1C and D1D platforms and will then be transferred for processing to the D1 field FPSO.
PCB Nair, CEO & MD, Essar Offshore & Subsea, Ltd, a strategic business unit of Essar Projects Ltd, said, "By completing this a large offshore project, Essar sends the signal that it is our intent to develop long-term collaboration with major Indian and global oil and gas market players".
Essar Projects operates through eight Specialised Business Units (SBUs) -- power, hydrocarbons, civil and buildings, minerals & metals, offshore & subsea, pipelines & terminals, ports & jetties, and heavy engineering.
Its revenue for 2011-12 was USD 2.2 billion and order book stood in excess of USD 6 billion, the statement added.
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