In its continuing series of Guest Lectures & Thought Leadership Programmes, PetroFed organised a lecture on ‘Challenges for EPC Contractors in Hydrocarbon Sector' by Shri M.R. Shanker, Executive Vice President, Larsen & Toubro Limited on April 18, 2007 at the PetroFed Conference Hall, New Delhi .

Chairing the session Shri N Bhalla, Group General Manager, Oil India Limited and a member of PetroFed Governing Council highlighted the importance of competent EPC Contactors in the globalised scenario for high growth in the Indian Hydrocarbon Sector.

Shri Shankar in his presentation admirably brought out the challenges and the opportunities for EPC Contractors in the Hydrocarbon Sector in a global scenario. Tighter budgets, schedules, global competition, very large project sizes, overloaded vendors, volatility in commodity prices and single point responsibility were emerging trends, he said. He elaborated on the modes of execution, the LSTK approach for mega projects, the emerging concept of cost conversion to LSTK and the LSTK contract conditions.

Mr. Shanker's presentation was very well received by the participants because of his vast experience in midstream and downstream hydrocarbon projects. Mr. Shanker is a member of the Divisional Board of E&C in L&T and a Director on the Board of L&T's joint venture company L&T-Chiyoda Limited.

The extended question and answer session brought to fore the need for closer interaction among EPC contractors and project owners for strengthening cooperation for mutual benefit.

Participants were earlier welcomed by Shri S. L. Das, Director (BD&C), PetroFed. A vote of thanks was proposed by Shri Y. Sahai, Director (Comm. & Mktg.), PetroFed.

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