American conglomerate GE today said it has signed a pact with engineering firm Larsen & Toubro to manufacture subsea equipment for future deep water projects in Krishna-Godavari basin on the eastern coast of India.
"Contributing to India's exploration and production (E&P) activities in the oil and gas sector, GE has signed an exclusive MoU with L&T Hydrocarbon Engineering, a wholly-owned subsidiary of L&T," the company said in a statement.
"The partnership brings together the manufacturing and technological excellence of two leading companies in the oil and gas space, and also marks India's entrance into local subsea equipment manufacturing," GE said.
Spread over an area of 600,000 sq metre and an annual capacity of 50,000 MT, L&T's modular fabrication facility in Tamil Nadu will be used for the production.
The plant is equipped with advanced welding and fabrication capabilities along with 150 metre jetty, making it an ideal location to manufacture advanced hardware for seabed.
Commenting on the deal, GE South Asia Chief Executive (Oil and Gas) Ashish Bhandari said that the strategic partnership with L&T has opened new avenues to manufacture highly advanced equipment.
L&T Hydrocarbon Engineering Managing Director and CEO Subramanian Sarma said the partnership will help L&T to broaden its offering in the deep water space.
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