The project consists of engineering, procurement, fabrication, transportation, installation and commissioning of three gas production decks with a high integrity protection systems and exotic materials that will protect the plant for a life of fifty years and more. Two of the decks will be installed in Hasbah and one in Arabiyah field of Saudi Aramco.
The significant award validates Aramco's confidence in selecting LTHE's offering for performance in fast-track implementation of complex offshore projects. LTHE has three fabrication yards and this project will be built at its flagship facility at Hazira, establishing a strong track-record to "design and build" offshore oil & gas projects.
Over the past three decades, LTHE has served the offshore oil & gas industry with consistent delivery that brings Oil Majors and National Oil Companies to place repeat orders on LTHE for challenging projects.
Rajesh Kakkar takes charge
Mr Kakkar has more than three and a half decades of experience in the various aspects of operations and management in both offshore and onshore fields.
Mr Kakkar played a key role in reversing the production trend at Western Offshore in 2015. He has been pioneer of “field-life-cycle maximization” to enhance production from the ageing fields. Through many brownfield as well as marginal field development, he has ensured incremental production of oil and gas.
He has held key positions in various high-level committees and task forces concerning oil & gas development projects. He played a pivotal role in ensuring health safety and environment as far as the offshore operations are concerned.
Mr Kakkar is well-known for his people management and interpersonal skills to foster team approach to the operations.
Mr Kakkar holds a Bachelors degree in Mechanical Engineering with Honors from Ravi Shankar University, Raipur. He completed Global Managers’ program at IIM, Kolkata and Leadership Development Program at IIM, Bangaluru. He was recognized as the “Young Executive of the Year” in 1991 and also received Chairman’s award in 1992 for “Consistent Performance in Offshore Production Operations”.
ONGC led Indian Consortium to acquire 10% stake
Thesynergyonline Corporate Bureau
ONGC led Indian Consortium to acquire 10% Stake in Lower Zakum Concession, Offshore Abu Dhabi
Sixty percent of the participating interest will be retained by ADNOC and the rest will be awarded to other international oil companies. Lower Zakum is one of three separate offshore concession areas that were formerly part of the ADMA offshore concession.
The Prime Minister Mr Narendra Modi said ,"The ADNOC offshore concession in favor of the Indian consortium has taken our bilateral engagement in the oil and gas sector to a new level, which befits the comprehensive strategic partnership between India and the UAE."
ADNOC Group’s CEO, Dr Sultan Ahmed Al Jaber stated that this strategic partnership with ONGC and other members of the consortium would help India meet its growing demand for energy and refined products, and create opportunities for ADNOC Group to increase its market share in a key growth market.
ONGC net profit up 15.2 %
The company's standaloneproduction registered upswing in 9 month period , natural gas up 7.7 per cent ; crude oil up 1.2 per cent and VAP up 4.9 per cent in FY'18 as against the corresponding period in FY'17.
The company notified 10 discoveries so far in FY'18.
Revenues from operation rose 14.9 pe rcent on a y-o- y basis to Rs 22,995 crore for the quarter ended December which was slightly higher than the CNBC-TV18 estimate of Rs 22,888 crore.
Earnings before interest, tax, depreciation, and amortisation rose 19.5 percent on a sequential basis to Rs10,919 crore for the quarter ended December 2017, compared to Rs9,136 crore reported in the previous quarter.
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