Chennai Jan 22 (Inditop.com) Offshore International FZC, a joint venture between Larsen and Toubro (L&T) and Malaysia’s SapuraCrest Petroleum, has booked orders worth $500 million and will start operating its new vessel soon, a senior official said Friday.
“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 here.
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 diametre.
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. Work under the MHN project will commence in mid-November. Four Jackets and associated structures will be installed.
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.
According to Naik, L&T’s shipyard coming up near here will be ready by 2011 to build vessels for defence.
