BSN Network / Mumbai
Thursday, February 18, 2010

Larsen and Toubro (L&T) and Malaysia’s SapuraCrest Petroleum’s joint venture company, Offshore International FZC has booked orders worth $500 million and will start operating its new vessel soon, a senior official said.

“The $175-million new vessel is over-booked with orders worth $500 million spread over five years. We may look at acquiring or hiring other vessels,” L&T chairman and managing director A.M. Naik told reporters.

The 160-metre vessel built, owned and operated by Offshore International FZC is capable of lifting load up to 3,000 tonnes and lay pipelines up to 60 inch diameter.

The vessel will provide offshore installation services, including sub-sea pipe lay and platform installation opportunities across India, the Middle East, South East Asia and Australia.

Naik said Offshore International has bagged the $75 million installation work for the ONGC’s Mumbai High North (MHN) redevelopment project.

SapuraCrest group executive vice-chairman Datuk Shahril Shamsuddin said the monsoon season in India and Malaysia are complimentary and hence the vessel can alternate between Indian seas and Malaysian seas.

After completing the sea trials, the vessel is expected to first go to work in Malaysian waters starting mid-March.

L&T’s shipyard is coming up near Chennai will be ready by 2011 to build vessels for defence, according to Naik.