IndianOil to offer consultancy to Chennai Petroleum
New Delhi   26-Oct-2009
OIL refining and petroleum products marketing company IndianOil will provide engineering, procurement and construction management (EPCM) consultancy services for crude oil storage tanks and onshore crude transfer to Chennai Petroleum Corporation (CPCL). Confirming the development, Mr. K. K. Jha, Director (Pipelines) at IndiaOil, said: "We have signed an agreement with CPCL to provide consultancy services for three years." The deal is , worth Rs 7 crore in consultancy fees for IndianOil. The company is in talks with several companies in India and abroad to expand its consultancy port-folio "We have some plans on this line (consultancy) on our drawing board," said Mr. Jha. The company has shown interest in projects in Liberia. Declining to reveal details on overseas projects, Jha said, "Most of our overseas projects for consultancy are in a nascent stage. We will announce the details once we seal those deals." Under the agreement with CPCL, IndianOil's pipelines division wilt provide services of preparation of detailed feasibility report, engineering procurement, inspection, project management, construction supervision, mechanical completion and commissioning of crude oil tankages and onshore pipeline for SPM Project of CPCL. IndianOil is expanding its pipeline project management portfolio and is providing services in the entire spectrum of petroleum pipelines covering tech-no-economic feasibility studies, design and detailed engineering, project execution, operations and maintenance, among others. The company will announce its second quarter financial results on October 30.