DelhiDesk State-run Engineers India Ltd (EIL) is exploring the development of a salt cavern-based strategic crude oil reserve in Rajasthan, in a bid to help India achieve energy security. EIL is working with DEEP.KBB GmbH, Germany, to develop salt caverns for crude oil storage. India currently has strategic crude oil storages at three locations, but the addition of a salt cavern-based reserve would boost energy availability in the country, which relies on imports for 85% of its energy requirement. EIL is also expanding its international operations, with the Middle East a key focus.
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👉 State-run Engineers India Ltd (EIL) is exploring the possibility of developing a salt cavern-based strategic crude oil reserve in Rajasthan.
👉 EIL is collaborating with DEEP.KBB GmbH, Germany, to explore the development of salt caverns in India.
👉 India currently does not have the technology for preparing salt caverns for storage of crude oil.
👉 EIL expects to get more orders from the Middle East, where the focus is on maximizing oil production.
👉 EIL has secured business worth around 4700 crore in FY22 and has already secured business worth around 650 crore in the ongoing financial year.
👉 Vizag Refinery Modernization Project (VRMP) of HPCL, HPCL Rajasthan Refinery project (HRRL), Capacity expansion project of IOCL-Panipat, Cauvery Basin Refinery (CBR) project for CPCL with the combined capital outlay of around $20 billion are some of the recent testimonies of EIL’s mega project implementation in the domestic market.
👉 EIL is venturing into newer areas like green hydrogen and carbon capture in line with the company’s net zero target for 2035.
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