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ISPRL Looking to Triple Capacity to 15 MMT in 10 Years – CEO & MD

Indian Strategic Petroleum Reserves Limited (ISPRL) is looking at tripling its capacity from the current 5.33 Million Metric Tonnes (MMT) to 15 MMT in the next 10 years, said its Chief Executive Officer (CEO) and Managing Director (MD) LR Jain.

In an interview with PSU Watch on the sidelines of India Energy Week (IEW) 2025, Jain spoke about plans of ISPRL to explore feasibility of setting up natural gas reserves in Rajasthan’s salt caverns, which would be a first in India and which could later also pave way for storing hydrogen in the future.

ISPRL is a Special Purpose Vehicle (SPV), which is a wholly owned subsidiary of Oil Industry Development Board (OIDB). It currently has three strategic petroleum reserves with a combined capacity of 5.33 MMT at Vishakhapatnam, Mangaluru and Padur.

These are excavated rock caverns and they hold crude oil only. In the phase-II expansion plan, ISPRL is looking to augment storage capacity further by creating an additional 6.5 MMT of strategic petroleum reserves at Chandikhol in Odisha (4 MMT) and another at Padur (2.5 MMT) in Karnataka.

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