Oil & Natural Gas Corporation Ltd.

Oil & Natural Gas Corporation (ONGC) has reportedly awarded Rs 1,588 crore contract to a consortium of Technip, Afcons Infrastructure and TH Heavy Engineering Berhad. The contract is for redevelopment of Heera field in the Arabian Sea, at approximately 70 kilometers South-West of Mumbai, India. The scope of project, which is scheduled to be completed in the first semester of 2015, includes engineering and procurement, fabrication, transportation and commissioning of the HRD process platform

Technip’s operating center in Mumbai, India will execute the overall engineering and procurement of tagged equipment of the project. The topsides will be designed for the float-over installation using the group’s proprietary integrated deck installation system with the support of Technip’s operating center in Paris, France.

ONGC is a premier oil and gas company in India, accounting for 71% of the country’s crude oil production and 54% of its natural gas production in 2011-12. It is also a significant producer of value added products such as liquefied petroleum gas (LPG), superior kerosene oil (SKO), and naphtha. GoI is the majority shareholder in ONGC, with a 69% equity stake as of now.