Contract for Single Point Mooring installation today

The government is going to sign a contract for engineering, procurement, construction and commissioning for installation of single point mooring (SPM) with double pipelines at 10:00am at Pan Pacific Sonargaon Hotel today.

State Minister for Power, Energy and Mineral Resources Nasrul Hamid is scheduled to witness the signing ceremony as chief guest. Bangladesh Petroleum Corporation (BPC), a state run organization, and a Chinese petroleum firm named China Petroleum Pipeline Bureau (CPPB) would sign the agreement.

With sincere and relentless efforts of the present government led by Prime Minister Sheikh Haisna has undertaken a project of installation of single point mooring (SPM) with double pipelines aimed at saving over Taka 1,000 crore annually.

Earlier, Nasrul Hamid told BSS that the estimated cost of the SPM project will be Taka 4,936 crore. The project is designed for ensuring unloading of imported crude oil from deep sea in a more efficient and time-saving manner.

He said the BPC has initiated the SPM project to be implemented by 2018. "Once the project is implemented, it would help unloading crude oil from mother vessels in the Bay of Bengal along with tackling oil pilferage and reducing time for fuel oil supply across the country," he added.

According to project details, installation of SPM with double pipelines would be completed on government to government (G to G) arrangement with Chinese Exim Bank's finance. The BPC has received technical offer from a Chinese petroleum firm.

The scheme details said the main objectives of the project are to ensure unloading of imported crude oil and finished products (HSD) easily and at a low cost and short time

The project is also aimed at reducing system loss in import of crude and finished products through lighter age operation, keeping balance between the growing demand of energy and its supply, enhancing the petroleum oil retention capacity through setting up of a diesel and crude oil storage tank at Moheshkhali and increasing energy supply security.

Source: BSS