The Pipelines Division of Indian Oil Corporation signed a contract value of $29.75 million with Iranian Offshore Engineering and Construction Co. of Tehran (IOEC) awarding installation of Single Point Mooring (SPM) system and associated pipeline-laying activities at Paradip. The contract is part of Rs.1,178 crore Paradip-Haldia Crude Oil Pipeline (PHCPL) project.

The SPM at Paradip will be the first of its kind on the eastern coast of India. IOC is already operating two in Vadinar on the West coast. The Paradip-Haldia Crude Oil Pipeline Project comprises of installation of crude oil handling facilities at Paradip Port including SPM system at approximately 30m water depth and laying of 48" dia, 20 km long submarine pipeline connected to SPM and a 0.5 km onshore pipeline to connect with the crude oil storage tank farm having 15 tanks of 60,000 kls capacity each and laying 30 inch diameter, 330 km long crude oil pipeline to Haldia. The SPM facilities will now be used for supply of crude oil to Haldia and Barauni refineries and for unloading and supply crude oil to the proposed refinery at Paradip in future.

IOC is implementing the strategic cross-country Paradip-Haldia Crude Oil Pipeline originating from Paradip in Orissa and terminating at Haldia in West Bengal for further connecting with the existing Haldia-Barauni Crude Oil Pipeline.