Punj Lloyd bags Rs 314 cr offshore contract

Punj Lloyd bags Rs 314 cr offshore contract New Delhi: Infrastructure major Punj Lloyd Thursday said it has bagged a contract worth Rs 314 crore (USD 57.75 million) from Al-Khafji Joint Operations for an offshore project in Al-Khafji, Saudi Arabia.

"The project, worth Rs 314 crore, is scheduled for commissioning in September 2014," it said in a statement.

Al-Khafji Joint Operations is a joint operation of two companies, Aramco Gulf Operations Company Ltd (AGOC) of Saudi Arabia and Kuwaiti Gulf Oil Company (KGOC), for oil and gas exploration development and production in the offshore area of the partitioned neutral zone between Saudi Arabia and Kuwait.

"Middle East has a huge potential in the offshore space and this project marks our entry into this market. With our extensive expertise of offshore pipelines and platforms, self owned technologically advanced barges, we are committed to delivering this project to out client's satisfaction," Punj Lloyd's Director P K Gupta said.

The scope of work for the project entails detail design, engineering, procurement, testing, transportation and construction/installation of a new 20" OD crude transmission line, 40 km submarine rigid pipeline, mechanical completion among others, the company said.

"The purpose of this project is to install a new crude transmission pipeline as a replacement for the existing transmission line," it added.

With this contract, the order backlog for the Punj Lloyd group on a consolidated basis has gone up to Rs 24,004 crore, "reflecting the total value of unexecuted orders as on December 31, 2012 and orders received after that day", the company further said.

Punj Lloyd is a leading engineering, procurement and construction company, offering services in energy and infrastructure sectors along with engineering and manufacturing capabilities in defence sector.

PTI