Saudi Rebuild Plans Boost India's Oil and Gas Stocks

Saudi Arabia is repairing its 1,200 km East-West Pipeline after drone strikes damaged several facilities in mid-September.

The potential for increased capital expenditures by Saudi Arabia could lead to more orders for companies with a presence in the region.

Larsen & Toubro (L&T) is one of India's largest engineering, procurement, and construction groups and has a solid presence in Saudi Arabia. The company completed several projects for Saudi Aramco, including the commissioning of the Jafurah Gas Compression Project Phase-1.

L&T secured large orders from Saudi Aramco under various programs and has also procured significant contracts for jackets and production deck modules.