L&T Hydrocarbon, the wholly-owned subsidiary of L&T has bagged an order worth Rs 50.76 billion from the Kuwait Oil Company (KOC).

The company will execute a complete Engineer-procure-construct contract for a gathering centre for KOC, a subsidiary of Kuwait Petroleum Corporation (KPC) and fully owned by the state of Kuwait.

The new facilities will support KOC's long term strategy for the development of the North Kuwait fields to increase oil production to 1 MMBOPD by 2015/2016.

Shares of the company declined Rs 87.1, or 5.17%, to settle at Rs 1,598.65. The total volume of shares traded was 187,754 at the BSE (Monday).