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ISPRL will operate the storage facilities as custodian of core critical sovereign crude oil reserves apart from operating the facilities as custodian of crude oil of any other entity that Government may determine. It shall also coordinate the release and replenishment of strategic crude oil stock during supply disruptions through an Empowered Committee to be constituted by the Government of India. Visakhapatnam project has already been commissioned and strategic portion of crude oil has already been filled in 1.03 MMT cavern compartment. HPCL has commenced utilization of the 0.3 MMT compartment for its day to day refining operations.

Mangalore facility has also been commissioned in October 2016 by filling one compartment through crude oil procured by MRPL and BPCL base on directions of MoP&NG. One VLCC was procured by MRPL and two VLCC’s were procured by BPCL.. At Padur although all the works within the plot boundary have been completed, a small segment of 110 KV HT line and the 36 km long 42” diameter pipeline are remaining, this is targeted for completion in this year, after which the filling of the crude oil is expected to commence.

The physical status of the three projects is as of end April 2017 is as follows:

Project Location Cumulative Physical Progress in %
Visakhapatnam 100
Mangalore 100
Padur 99.10*

*The progress on the 42” diameter Mangalore-Padur pipeline is included in the progress of the Padur project

The Padur project is expected to be commissioned after the cross country pipeline and the 110 KV HT line is completed.

As on 31.03.2017, the authorized capital was Rs.3832.56 Crore and paid up & subscribed capital of the company was Rs.3540.01Crore.

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