Mumbai: Shipping and logistics company Great Offshore on Monday said the company has received an engineering contract
worth Rs 234 crore from State-run Oil and Natural Gas Corporation (ONGC).

“It's been our consistent endeavour to diversify the growth drivers for our business. This contract is a big step in that direction. It is a formidable leap for the company in terms of business positioning,” Great Offshore Vice-Chairman cum Managing Director, Vijay K Sheth said.

The scope of the engineering procurement and commissioning contract involves carrying out transportation as well as installation work on 79 offshore platforms of ONGC.

Great Offshore said the contract is scheduled to be completed by the middle of the calendar year 2010, the company said in a filing to the Bombay Stock Exchange.

The work would be carried out at various production platforms in the western Indian fields such as Mumbai High, Bassein & Satellite and Neelam & Heera.



Consolidated revenues from engineering services and projects during financial year 2007-08 stood at Rs 25 crore, Great Offshore said.

Shares of the company were trading at Rs 415.05, up by 0.94 per cent on the BSE.