BPC inks deal with Chinese co to set up single-point mooring project

The estimated cost of the SPM project is Tk 5,426.26 crore and expected to be completed by July 2018

The Bangladesh Petroleum Corporation (BPC) yesterday signed a deal with China Petroleum Pipeline Bureau (CPPB) to set up a single-point mooring (SPM) project with a double pipeline for the state-run Eastern Refineries Ltd (ERL).
To be built in the Bay of Bengal, SPM is an infrastructure from which petroleum products would be transported through pipelines from mother vessels (to be moored offshore) to oil storage tanks onshore.
CPPB will build the SPM as an engineering, procurement and construction (EPC) contractor. It will construct the SPM on Sonadia Island in the deep sea.
BPC director Sayed Mohammad Mozammel and CPPB president Zhao Yujian signed the agreement on behalf of their respective organisations at a hotel in the city yesterday.
The deal was signed under the Speedy Supply of Power and Energy Act. Its main objective is to ensure that imported crude oil and finished products are unloaded easily, cheaply, speedily and more efficiently. The estimated cost of the SPM project is Tk. 5,426.26 crore.
According to the deal, the BPC will set up the SPM with the financial support of the Chinese EXIM Bank by July 2018.
A total of 220 kilometres of pipelines would be installed from the floating terminal (SPM) on the waters of the Bay of Bengal to ERL at Patenga in Chittagong.
The BPC imports crude and refined petroleum from different Middle Eastern and other countries using Chittagong port.
Lighter vessels unload the oil in the deep sea from mother vessels. The crude oil is then ferried by oil tankers to the ERL for distillation.
With the installation of the SPM, the BPC would be able to cut the oil-unloading period to nine days from the existing 21 days from a lighter 20-tonne ship. It would also be able to save some Tk. 800 crore.
Speaking at the signing ceremony as the chief guest, state minister for power and energy, Nasrul Hamid, said the signing of this much-awaited project has taken a long time. “The signing has finally been done today. I hope the project will be completed soon, on time.”
Energy and Mineral Resources Division (EMRD) secretary Nazimuddin Chowdhury and BPC chairman Md Mahmud Reza Khan were also present at the ceremony.

BPC inks deal with Chinese co to set up single-point mooring project

The estimated cost of the SPM project is Tk 5,426.26 crore and expected to be completed by July 2018

The Bangladesh Petroleum Corporation (BPC) yesterday signed a deal with China Petroleum Pipeline Bureau (CPPB) to set up a single-point mooring (SPM) project with a double pipeline for the state-run Eastern Refineries Ltd (ERL). To be built in the Bay of Bengal, SPM is an infrastructure from which petroleum products would be transported through pipelines from mother vessels (to be moored offshore) to oil storage tanks onshore. CPPB will build the SPM as an engineering, procurement and construction (EPC) contractor. It will construct the SPM on Sonadia Island in the deep sea. BPC director Sayed Mohammad Mozammel and CPPB president Zhao Yujian signed the agreement on behalf of their respective organisations at a hotel in the city yesterday. The deal was signed under the Speedy Supply of Power and Energy Act. Its main objective is to ensure that imported crude oil and finished products are unloaded easily, cheaply, speedily and more efficiently. The estimated cost of the SPM project is Tk. 5,426.26 crore. According to the deal, the BPC will set up the SPM with the financial support of the Chinese EXIM Bank by July 2018. A total of 220 kilometres of pipelines would be installed from the floating terminal (SPM) on the waters of the Bay of Bengal to ERL at Patenga in Chittagong. The BPC imports crude and refined petroleum from different Middle Eastern and other countries using Chittagong port. Lighter vessels unload the oil in the deep sea from mother vessels. The crude oil is then ferried by oil tankers to the ERL for distillation. With the installation of the SPM, the BPC would be able to cut the oil-unloading period to nine days from the existing 21 days from a lighter 20-tonne ship. It would also be able to save some Tk. 800 crore. Speaking at the signing ceremony as the chief guest, state minister for power and energy, Nasrul Hamid, said the signing of this much-awaited project has taken a long time. The signing has finally been done today. I hope the project will be completed soon, on time. Energy and Mineral Resources Division (EMRD) secretary Nazimuddin Chowdhury and BPC chairman Md Mahmud Reza Khan were also present at the ceremony.