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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 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 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. ISPRL has signed an agreement with ADNOC for filling the second compartment at Mangalore. The first consignment of 2million barrels of oil from ADNOC was received at ISPRL Mangalore on 21st May 2018. At Padur site pre-commissioning checks are done, facility is expected to be commissioned in Second quarter of 2018-19.

The physical status of the three projects is as of end July 2018 is as follows:

Project Location Cumulative Physical Progress in %
Visakhapatnam 100
Mangalore 100
Padur 99.20

As on 30.06.2018, the authorized capital was Rs.3832.56 Crore and paid up & subscribed capital of the company was Rs.3685.37 Crore.

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Last Updated on 9 May 2018