GSPC received only one bid for the work from Indian engineering giant Larsen & Toubro (L&T), which quoted $950 million for the process platform contract.
Sources told Upstream that the price quoted by L&T is too high and unrealistic for GSPC, which was looking at a price of less than $650 million for the platform.
Sources also told Upstream that GSPC will now reduce the facilities and the size of the platform, when a re-bid is invited.
“It
