Larsen and Toubro (L&T), construction and engineering major (L&T) has announced that it has won two offshore contracts worth Rs 5,300 crore ($1.18 billion).

According to sources, the two orders have been placed by state-run Oil and Natural Gas Corp (ONGC).

The orders have been bagged for the Mumbai High North (MHN) process platform and living quarters, with an additional order for supply of three process gas compression modules to be set up in the same complex.

L&T's scope of work under the contract includes survey, engineering, procurement, installation and commissioning for major process, living quarters and twin flare platforms, all connected by bridges.

In a separate release, the company has informed that the projects have to be finalized within 33 months.

As per reports in media, L&T bagged the projects through bidding against international majors that included Hyundai and Samsung.