LnT To Build Rigs, Semi-Submersibles, FPSOs

Engineering and construction major Larsen and Toubro today said it would build assets for the offshore segment that is facing shortage of assets.

L&T, which has a base in Oman, plans to build jack-up rigs, semi-submersibles and FPSOs (Floating Production and Storage Offloading vessels) for the offshore segment in Oman.

Mr. K Venkataraman, L&T Board Member, said, “We plan to build jack-up rigs, semi-submersibles and FPSOs for the offshore sector at our base in Oman”.

He said that it plans to build two or three jack-up rigs, one or two semi-submersibles and one or two FPSOs.

The cost of a jack-up rig in the international market is estimated to be about $350 million. The cost of a semi-submersible is about $400 million. L&T plans to get a hull for a FPSO vessel from other player and would make the “top side” at its facility, which would cost about $400 million.

As a first step, L&T has bagged an order from a UK-company to refurbish a jack-up rig for $33.3 million.

There is a huge demand for refurbishment of jack-up rigs because the existing ones are at least 15 years old.

He said, “More and more rigs are being deployed in the Gulf region because of an increase in exploration activity in the region,”

From the Oman-base, L&T plans to attract players in the Gulf and Asia Pacific regions for refurbishment work.

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