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Chandikhol Petroleum reserve gets Union Cabinet nod

New Delhi/Bhubaneswar: The Union Cabinet today approved establishment of two additional Strategic Petroleum Reserves (SPR) of 6.5 Million Metric tonne including one at Chandikhol in Odisha.

The second one will be established at Padur in Karnataka, a PIB release stated. These two projects will include construction of dedicated Single Point Mooring, it added.

Both the storages will be an underground rock cavern. Chandikhol project will have capacities of 4 MMT while Padur storage will have 2.5 MMT, the release said.

Union Finance Minister Arun Jaitely had announced setting up of two projects during budget announcement for 2017-18.

These two storages will provide an additional supply of about 12 days and is expected to augment India’s energy security.

India has oil storages at Visakhapatnam (1.33 million tonnes), Mangalore (1.5 million tonnes).

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