OIL signs agreement with NRL for transportation of additional petroleum products through NSPL

OIL signs agreement with NRL for transportation of additional petroleum products through NSPL

FPJ BureauUpdated: Friday, May 24, 2024, 01:53 PM IST
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Oil India Limited (OIL), India’s oldest Oil & gas Company & the youngest Maharatna CPSE of Govt. of India and Numaligarh Refinery Limited (NRL), OIL’s material subsidiary company signed a new long-term Definitive Agreement for the transportation of additional petroleum products through OIL’s Numaligarh-Siliguri Product Pipeline (NSPL) following the commissioning of Numaligarh Refinery Expansion Project.

The agreement was signed by Pankaj Kumar Goswami, Director (Operations), OIL & Sanjay Choudhury, Director (Finance), NRL in the presence of Dr Ranjit Rath, Chairman & Managing Director OIL & Chairman NRL, Bhaskar Jyoti Phukan, Managing Director (NRL), and Functional Directors, CVO and senior officials from both the Companies in a ceremony held on 20th May 2024 in New Delhi. The Agreement will be effective from the date of commencement of augmented pipeline operations for a period of 25 years.

Currently, OIL evacuates 1.72 MMTPA of petroleum products through NSPL, delivering to the Marketing Terminal of NRL at Siliguri. Since its commissioning in 2008-09, the NSPL has served as the lifeline for evacuating products from NRL’s Refinery to Siliguri Marketing Terminal for onward distribution to various demand centres in eastern and northern India. In line with Hydrocarbon Vision 2030 for Northeast India, NRL is executing Numaligarh Refinery Expansion Project to enhance capacity from 3 to 9 MMTPA. To evacuate NRL’s additional petroleum products through existing NSPL, OIL & NRL entered into an MOU in December 2020 under which, OIL agreed to invest for augmenting the capacity of the NSPL from 1.72 MMTPA to 5.50 MMTPA by way of establishing additional booster pump stations and other facilities at different pump stations along its right of way.

On the occasion, Dr Ranjit Rath, CMD, OIL & Chairman NRL lauded the efforts of both Companies in framing the Definitive Agreement, which will go a long way in the transportation of petroleum products to Siliguri & beyond, thus fuelling the growth trajectories of energy availability in the days to come.

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